Silverado Ranch parcel sells for $3M in Queen Creek

More than 550 acres of land in Queen Creek has been sold for $3.05 million. At one time the land was slated for an 1,800-home development called Silverado Ranch. Seventh Heaven Family Trust of Carlsbad, Calif. has acquired the Pinal County land. The land is located at Quail Run Road and Skyline Drive southeast of the Phoenix metro area. Colliers International brokers John Finnegan, Chaz Smith and Ramey Peru represented Seventh Heaven. Another California group, SA Group Properties Inc. of Los Angeles — was the seller. They were represented by CBRE Land Services Group brokers Mike Ratliff, Dave Headstream and Jason Hyams. SA bought the Silverado Ranch land via foreclosure proceedings in 2009. Before all that, the land was owned by Montalbano Homes. The 556 acres are zoned for more than 1,800 homes and some sewer and water lines, according to CBRE.

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