Homebuilders acquire land in Mountain’s Edge community
Homebuilders Richmond American Homes and Pulte Homes closed escrow in December on 95 acres in Mountain’s Edge master-planned community for $14.3 million, an executive for commercial brokerage Colliers International said.
Colliers Senior Vice President Michael Stuart said the sale signals that the Las Vegas Valley will continue to expand and that builders are looking for good deals on raw land.
He represented an affiliate of Northbrook, Ill.-based Bixby Bridge Capital in the sale of the land, which is at Bermuda Road and Starr Avenue. The land has roads and utilities in place and has a tentative development map.