Two publicly traded homebuilders have joined forces to scoop up a 250-acre parcel of land near a $1.5 billion industrial park being planned in Glendale.

Scottsdale-based Taylor Morrison Home Corp. (NYSE: TMHC) and Atlanta-based PulteGroup Inc. (NYSE: PHM) teamed up to pay $33 million for the 250 acres just west of Loop 303, bounded by Camelback Road on the north and Bethany Home Road on the south.

Nate Nathan and Courtney Buck of Scottsdale-based Nathan & Associates Inc. negotiated the transaction, which had been in escrow since last year.

In August 2020, the brokers also had negotiated the $70.5 million sale of the 614-acre parcel where Phoenix-based Merit Partners is developing a $1.5 billion logistics park.

To continue reading, click here.

By Angela Gonzales, Senior Reporter - Phoenix Business Journal