Meritage Homes acquired 25.43 acres of land in Maricopa for $9,702,000, according to the commercial real estate tracking website Vizzda. The cost of the land, located at the northeast corner of John Wayne Parkway and Smith Enke road in Maricopa, breaks down to $381,517.89 per acre.
The seller was Harvard Investments.
Nate Nathan of Nathan & Associates acted as the broker for both the buyer and the seller, according to Vizzda.
The land is part of the Lakes at Rancho El Dorado development in Maricopa.
Lakes at Rancho El Dorado is an established — yet affordable — master-plan community with a central lake amenity provides convenient access to local shopping, dining and entertainment.
Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2019. Meritage offers a variety of homes that are designed with a focus on first-time and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.
The Company has designed and built over 125,000 homes in its 35-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience.