KB Home Acquires Two Large Land Parcels Totaling $9.2M for 109 Acres in the West Valley for New Homes
Land Advisors Organization’s Metro Phoenix homebuilding team facilitated the deals.
SCOTTSDALE, ARIZONA (April 5, 2021) – Land Advisors Organization’s Metro Phoenix Homebuilding team is pleased to announce the closing of two land sales in the much sought-after West Valley of Metropolitan Phoenix on behalf of KB Home Phoenix, Inc. The two sales total $9.2 million for 109 acres, which is being developed into new homes.
Most recently, KB Home acquired nearly 80 acres of land located at the NWC of Apache Boulevard and Southern Avenue in Buckeye, Arizona for $5.85 million from MPC Mystic, LLC. The site, known as Mystic Vista, is planned for approximately 293 lots in this first phase. KB Home plans to offer a mix of single and two-story homes ranging in size from 1300 to 2900 square feet. Land Advisors Organization’s homebuilding team of Ryan Semro, Ben Heglie and Bret Rinehart represented the seller in the transaction.
In addition, KB Home acquired nearly 30 acres on the SWC of Elwood Street and 83rd Avenue in Phoenix earlier this month for $3.4 million. The site is planned to accommodate approximately 133 new single and two-story homes ranging from 1400 to 2600 square feet. The sale was facilitated by Land Advisors Organization’s homebuilding team of Greg Vogel, West Campbell, Rinehart and Semro who represented the seller, a family trust.
“We currently have five new communities in the West Valley and are thrilled to be expanding our footprint and offering our personalized, new homes in these thriving sub-markets,” said Kevin McAndrews, President of KB Home Phoenix division. “Buckeye continually ranks as one of the fastest growing cities the U.S. and we are proud to be a part of that growth.”
Construction of KB Home’s two new communities in West Phoenix is expected to begin mid-2021. The homebuilder’s current new home communities in the region include Oak Park and Marbella Park in Avondale, Encantada Estates and The Traditions at Verrado in Buckeye and The Traditions at Marbella Ranch in Glendale.
“We appreciate the opportunity to bring together sellers and buyers, like KB Home, especially when the West Valley is experiencing such exciting growth and the market is looking to be in need of new home lots for the foreseeable future,” Semro said. “As the area continues to grow, we are expecting a second phase of the same acreage, as in the Buckeye sale, to close in a little more than a year from now.”
Land Advisors Organization’s Metro Phoenix homebuilding team facilitates sales on behalf of landowners with virtually every major home builder in the market. The team specializes in home builder developments, multi-family communities and master-planned communities throughout Arizona.
About Land Advisors Organization
Founded in 1987, Land Advisors Organization is the nation’s largest land brokerage firm specializing in providing deep market insights to landowners and purchasers for the most comprehensive and effective evaluation of land in markets across the country. By integrating current local market information with cutting-edge technology and geographically specialized professionals, Land Advisors Organization advises clients in identifying and capitalizing on valuable land opportunities in all economic environments. Land Advisors Organization serves landowners and purchasers from offices in Phoenix, Tucson, Casa Grande and Prescott, Arizona; Irvine, San Francisco, Century City, Pasadena, Roseville and San Diego, California; Orlando and Tampa Bay, Florida; Boise, Idaho; Las Vegas, Nevada; Albuquerque, New Mexico; Charlotte, North Carolina; Austin, Houston and Dallas-Fort Worth, Texas; Salt Lake City, Utah and Seattle, Washington. Stay connected with us on Twitter, Facebook and LinkedIn.
About KB Home
KB Home is one of the largest and most recognized homebuilders in the United States and has been building quality homes for over 60 years. Today, KB Home operates in 45 markets across eight states, serving a wide array of buyer groups. What sets us apart is how we give our customers the ability to personalize their homes from homesites and floor plans to cabinets and countertops, at a price that fits their budget. We are the first builder to make every home we build ENERGY STAR® certified. In fact, we go beyond the EPA requirements by ensuring every ENERGY STAR certified KB home has been tested and verified by a third-party inspector to meet the EPA’s strict certification standards, which help to lower the cost of ownership and to make our new homes healthier and more comfortable than new ones without certification. We also work with our customers every step of the way, building strong personal relationships so they have a real partner in the homebuying process, and the experience is as simple and easy as possible. Learn more about how we build homes built on relationships by visiting kbhome.com.
# # #
Media Contact: Patty Johnson, Connections Marketing & Communications
PattyJohnson@Connections-marcom.com or 602.402.2965