Angels Owner Arte Moreno Buys 21 Acres in Gilbert Near SanTan Village
Arte Moreno, owner of the Los Angeles Angels and a prominent Arizona billionaire, recently acquired approximately 21 acres of land in Gilbert, Arizona, for $24.5 million. The purchase price comes out to about $1.17 million per acre, highlighting the area’s growing appeal for commercial development.
📍 Location and Property Details
The acquisition includes two parcels:
A nearly 1-acre lot at 2590 South Market Street
A 20-acre parcel at 2025 East Williams Field Road
Both sites are located near SanTan Village, one of Gilbert’s most active and fast-growing retail and entertainment districts. The land was sold by Macerich, a major real estate firm known for owning and operating large-scale shopping centers.
🏗️ Development Plans
The land was acquired through San Tan Crossing LLC, an entity affiliated with Moreno. Although the exact plans haven’t been announced, the development will be handled by Phoenix-based Accelerated Development. Bob Crum of Ross Brown Partners and Darren Pitts of Accelerated Development will oversee both marketing and the overall project.
🏙️ Surrounding Growth and Context
Gilbert continues to experience a retail and mixed-use development boom. One nearby example is the $145 million Signature at SanTan Village project, featuring major anchors like Whole Foods, Dick’s House of Sport, and a future Fogo de Chão. The broader Phoenix metro area is one of the top U.S. markets for retail construction, with millions of square feet currently in progress.
Moreno’s latest acquisition adds to his growing Arizona portfolio and underscores his continued interest in high-potential real estate across the state.