A $1 billion lease for land, the most expensive in Arizona Land Department history, was auctioned Thursday to a developer who plans to build high-end offices on the property on Loop 101 in north Scottsdale.
The 99-year lease on the 125-acre site, situated on the east side of the elbow made by Loop 101’s Pima Freeway, just north of Bell Road, went for $65.8 million, a figure that will be used to calculate the annual rent. More...
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25 May 2007
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