52 Acres in Pinal County Sold for Future Residential Subdivision

Growth in Queen Creek attracting builders and developers

PHOENIX, Arizona – Cushman & Wakefield announced that Magic Lake 80, LLC of Columbus, Ohio sold 52-acres at Hunt Highway and Heritage Road in Pinal County, Ariz. Lookout Mountain Partners, LLC of Scottsdale, Ariz. purchased the land for $1.25 million ($24,038 per acre).

Brian Rosella of Cushman & Wakefield represented the seller. The buyer, Lookout Mountain Partners, plans to gain entitlements for a residential subdivision to sell to homebuilders.

Cushman & Wakefield is tracking land transactions in the Hunt Highway/San Tan Corridor and has noticed that the number of transactions rose 39% from 2016 to 2017. “The Hunt Highway corridor is receiving a lot of attention from builders and developers right now because of all the growth in Queen Creek,” said Brian Rosella.