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05/27/07
Scottsdale land auctioned for $68.5 million
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:29 pm

SCOTTSDALE - Scottsdale Vistella LLC placed the winning bid of $68.5 million Thursday for 125 acres of undeveloped state trust land northeast of Loop 101 and Bell Road. The developer of offices and assisted living homes in the Valley and New York was the only firm that bid on the land, which also was appraised at $68.5 million, or $549,000 per acre. When the land was first put up for action by the Arizona State Land Department last month there were no bidders.  More…

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