Maracay and Jen/Terrawest close on
Warner Groves at Morrison Ranch for a combined purchase price of $13,062,642
On October 30 the latest sale in
Morrison Ranch (Gilbert AZ) closed at First American Title (Angelique Sizemore)
at final plat to multiple builders in the approximately 153 acre Warner Groves
neighborhood located at the NEC of Higley and Warner Roads.
The seller was Morrison Ranch Inc
(Contact: Scott Morrison) and the buyers were Ashton Wood (Contacts: Jeremy
Ramsdell Land VP and Scott Moore Division President) who are purchasing 2
subdivisions: 66 lots of 85 by 125 and 98 lots that are 60 by 125, Maracay
(Contacts: Jason Weber, Director of Land Acquisitions and Tom Lemon
VP Land Acquisitions and Development, Andy Warren Division President) acquired
2 parcels, 66 lots that are 70’ by 130’ and 105 lots that are 50’ by
120’. Ashton is land banking with Mike Jesberger of Terrawest.
The site will be developed under a
Joint Development Agreement for the builders managed by Greg Hahn of EPS and
the lots will be finished for a total of $1600 per front foot. The
improvements include a major portion of Higley Road and on the east side of
Higley Road will be a second water storage lake for the balance of the Morrison
Ranch property.
Within the sale property was a family
gifted parcel of 38 acres to ASU Foundation who was one of the Seller’s
(Mollie Jackson and Randy Levine is the ASU Foundation contact).
Marketing handled by Michael
Martindale of CRA who has represented Morrison Ranch residential sales since
the inception of the project.
Lots are final platted in the theme
of Morrison Ranch and the housing product with continue that theme with
Porches, Craftsman, Farm House and Ranch. Open spaces are throughout the
project with tree lined streets.
By Nick Labadie October 31, 2014
Beautiful home for sale in Morrison Ranch in Gilbert, AZ! Contact us today if you know someone looking to move to the area.
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