Gilbert Land Sale

Things are heating up in Gilbert, Arizona. Arte Moreno, the billionaire behind the Los Angeles Angels and a prominent Arizonan, just snapped up 21 acres in one of Greater Phoenix’s busiest development corridors. The sale? A cool $24.5 million. While the specifics are under wraps, the site’s location and Moreno’s track record have plenty of people talking.

Today on LUXE BLOG we will discuss what this deal could mean for the Southeast Valley and why the area’s becoming the epicenter of retail growth.

Big Land Grab Near SanTan Village

The new Moreno-owned parcel sits on two pieces of land: one acre off Market Street, and 20 acres just east on Williams Field Road. Combined, it’s a prime piece of dirt right in the thick of the East Valley’s retail boom.

• 21 acres near SanTan Village
• $24.5 million purchase price
• Purchased April 28 by San Tan Crossing LLC
• Sellers: Macerich Company (Scottsdale Fashion Square’s owner)
• Development handled by Accelerated Development
• Brokered by Ross Brown Partners’ Bob Crum & Darren Pitts

The site’s next door to Gilbert’s latest big-budget builds. That includes Signature at SanTan Village, a $145 million lifestyle hub anchored by Whole Foods and Dick’s House of Sports. Nearby, Northside at SanTan Village is adding hotels, restaurants, and retail at a fast clip. That’s no accident. This part of The Valley is where retail action is sprinting ahead.

Phoenix Retail Construction Is Catching Fire

Greater Phoenix ranks third in the U.S. for retail development. Yes, you read that right. Only Dallas-Fort Worth and Houston are building more.

• 2.5 million square feet under construction
• 3rd place nationally in retail development
• Surpassing other major Sun Belt markets
• Retail anchors leading mixed-use projects
• Southeast Valley is the heartbeat of the boom

Despite high construction costs and rising rates, demand hasn’t flinched. New brands keep entering. Locals keep spending. And investors like Moreno are seeing the upside.

Why Moreno Keeps Buying Arizona Dirt

This isn’t his first high-profile land grab. Back in November, Moreno shelled out $60 million for a 12-acre office complex near his Biltmore mansion. The reason? To shut down a planned luxury apartment project next to his home turf.

• Paid $60M for Biltmore office property
• Halted a rezoning attempt for luxury apartments
• Previously bought multiple high-value sites in Phoenix
• Personal and business motivations shaping his buys

Whether protecting his backyard or eyeing new development plays, Moreno’s becoming a serious land player across Greater Phoenix.

Development Buzz Around The New Site

Though official plans haven’t been announced, the development team behind the Gilbert parcel has a track record. Accelerated Development and Velocity Retail know how to move dirt and market big square footage.

• Darren Pitts of Accelerated Development leading buildout
• Known for large-scale retail & mixed-use projects
• No public plans yet, just high expectations

Expect something major. Given its location and size, this land isn’t staying quiet for long.

The Takeaway

Arte Moreno isn’t just making headlines in baseball. His latest land purchase in Arizona plants a flag in one of the state's busiest development zones. Gilbert, and the broader Southeast Valley, is booming with retail, restaurants, and big-box energy. With more than 2 million square feet rising across the metro, Greater Phoenix is now one of the country’s hottest markets for commercial growth.

Want a front-row seat to the action? Keep your eye on Williams Field Road. Something big is coming.