Richmond American Homes bought 19.08 acres of land in Maricopa for $11,162,500, according to the commercial real estate tracking website Vizzda. The price breaks down to $585,036.69 per acre.
The land is located at the northeast corner of John Wayne Parkway and Smith Enke Road in Maricopa.
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The seller was Harvard Investments.
The broker was Nate Nathan of Nathan & Associates.
The land is part of the Rancho El Dorado Phase III development in Maricopa. The 19.08 acres of land is divided into 95 lots, with a sale price that corresponds to $117,500 per lot.