Indicap, Colmena Group and Langley Properties have officially acquired 311 acres of land at the northwest corner of Power Road and Warner Road in Gilbert for $107,500,000 in an all-cash deal. This acquisition will be used to develop “The Ranch” – a billion-dollar mixed-use project that includes industrial, retail, office and residential components. The plan also calls for more than 16 acres of green space with trails and landscaping that will transition from the Morrison Ranch neighborhood.
The site planning phase is now underway with a groundbreaking scheduled for the third quarter of 2024. Receiving zoning while still in escrow has enabled these developers to secure their prize; they can now move forward on this exciting new venture!
