PHOENIX—Pulte Homes was the winning bidder in an Arizona State Land Department auction for 43.3 acres with a bid of $7.1 million. The purchase includes 29.52 acres located on the northeast corner of 55th Avenue and Happy Valley Road along with an additional 13.78 acres north of Happy Valley Road on the west side of 55th Avenue. Pulte is planning to build single-family residential homes on the on the site.

Brian Rosella, vice president of the land group, and Will French, vice president, both of Cushman & Wakefield, represented Pulte during the auction.

Rosella tells GlobeSt.com: "Pulte strategically purchased this property as an opportunity to acquire acreage that is surrounded by the company's previous development in the Stetson Valley. This allows Pulte to further its strong presence in the area, which offers few remaining parcels for development."

PulteGroup has been providing homeownership to families for more than 60 years. It operates in approximately 50 markets throughout the country and is well known for its Centex, Del Webb, DiVosta and Pulte Homes brands.

“The visual beauty of the Stetson Valley community and location appealed to Pulte as they expand their presence in the Northwest Valley,” said Rosella. “Pulte has achieved great success with previous home developments in the Stetson area and is enthusiastic about continuing that success with this new project.”