Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
Categories:

Archives:
Meta:
April 2024
S M T W T F S
« Oct    
 123456
78910111213
14151617181920
21222324252627
282930  
06/23/07
Trust land bidder will need $99million for development rights
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:58 pm

Bidders for Arizona trust land that Westcor wants for its Palisene shopping center will have to pay at least $99 million to gain the development rights. The State Land Department has valued the 112-acre site northwest of Loop 101 and Scottsdale Road at $32 million. Plus, the winning bidder on a 99-year lease must commit to $67 million in improvements, including roads, utilities and drainage work. An auction is planned for late September, although no date has been set, Land Commissioner Mark Winkleman said.  More…

Leave a Reply