Taylor Morrison Acquires 67 Finished Lots at $2,222 Per Front Foot or $200K Per Lot in Cave Creek

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 & 56^th 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 Corp--a subsidiary of Lennar Homes--originally acquired all 608 acres from the Arizona State Land 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!