VIZZDA--September 5th, 2012 -- Lennar Homes sold 67 finished lots to Taylor Morrison for $13.4M within their Lone Mountain community, located North of the Northeast corner of Lone Mountain Rd & 56th Street in Cave Creek.
The acquired lots all measure 90’x’130’ or 11,700 SF and
are zoned RE-35. Lone Mountain totals 794 lots on 608 acres. US Home
of Lennar Homes--originally acquired all 608 acres from the Arizona
Department at auction in 2000 for $38.5M but the transaction was not recorded until May 2nd, 2007.
The Arizona State Land Department has a continuing participation
agreement with Lone Mountain's builders. Lennar subsequently sold
portions of the community to Pulte Homes.
For more information on this and other commercial real estate intelligence from VIZZDA, follow us on Twitter, 'like' us on Facebook, sign in or join today!