Meritage Homes bought 218 acres of land in Goodyear for $14,750,000, according to the commercial real estate tracking website Vizzda. The price breaks down to more than $67,660.55 per acre.
The land is located at the southeast corner of Citrus Road and Camelback Road in Goodyear.
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The seller was William Abel Patterson.
Bret Rinehart, Ryan Semro, Ben Heglie, and Greg Vogel of Land Advisors were brokers on the deal.
The land is expected to be used to create Abel Ranch, which aims to turn the 218 acres of farmland into 451 homes with a community garden.