Homebuilders buy 600 lots on land that once was a dairy farm in Mesa

Two giant homebuilders have closed on 601 lots at Hawes Crossing, a master-planned community in Mesa that once served as dairy farm land.

Miami-based Lennar Corp. (NYSE: LEN) and Los Angeles-based KB Home (NYSE: KBH) paid roughly $40 million for 601 lots at Hawes Crossing. KB’s transaction closed Dec. 11 and Lennar’s transaction closed on Dec. 5.

While this acquisition adds to 561 lots Lennar had already purchased over the past few years, this will be KB Home’s debut at Hawes Crossing, with 259 lots at the southwest corner of Hawes and Warner roads.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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