Located on the northwest corner of Queen Creek and Price roads, the land was purchased by Wells Fargo from the DRA Family LLC and Richard and Deanna Anglin, all of Chandler, in two separate transactions totaling more than $8 million. Wells Fargo paid $7.8 million for a 62.6-acre parcel owned by the DRA Family LLC and $640,000 for 4.4 acres owned by the Anglins.

The company is expected to begin construction on a 550,000-sf, two-building first phase by May, with completion slated to wrap up early next year. That first phase will consist of a four-story, 219,000-sf office building along with a three-story structure with 181,000 sf. Designed by the DLR Group, it will be built by the Weitz Co. The campus eventually will include 1.2 million sf of office space for 6,500 employees.

The company selected the former Anglin Dairy Farm as the site of its new campus because of the strong demographics in the Chandler area and the land's excellent location near Interstate 10, the Loop 101 and the future SanTan Freeway. The site is situated near Intel, Motorola and several other large employers.

Wells Fargo currently occupies most of a 473,000-sf building at 100 W. Washington St. in Phoenix. The firm is expected to consolidate several offices at the new location.

Brad Anderson, with CB Richard Ellis Inc.'s Phoenix office represented the buyer, Wells Fargo Bank of Phoenix, in the land sales transactions. Richard and Deanna Anglin and the DRA Family LLC were not represented by brokers.