KB Home Buys 39.9 Acres in Gilbert for $12.99M

Article originally posted on AZ Big Media on July 7, 2021

KB Home bought 39.9 acres of land in Gilbert for $12,999,000, according to the Investment real estate tracking website Vizzda. The price breaks down to nearly $326,000 per acre.

The land is located at the southwest corner of  Higley Road and Riggs Road in Gilbert. The seller was Vestar.

The land is expected to be used for the proposed Cordillera Vista Estates. KB Home wants to use the land for a 118-lot single-family residential subdivision.