K Hovnanian Homes acquired 80 partially finished lots near Queen Creek for $5,800,000, according to the commercial real estate tracking website Vizzda. The seller was Wayne DeStefano.
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The sale price breaks down to $72,500 per lot. The land is located at the northwest corner of Higley Road and Hunt Highway near Queen Creek. The lots are part of the planned Santanilla community near Queen Creek.
Queen Creek is growing, with a current population of 60,000, and a projected population expected to nearly double by 2050, according to ADOA-EPS population projections.
