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State Land In Arizona Sells At Auction For $49 Million

KNAU News and Talk - Arizona Public Radio | By Associated Press
Published September 11, 2020 at 4:27 AM MST

A bidding war over state-owned land in Scottsdale, Arizona, has culminated in a sale worth more than $49 million.

The Arizona State Land Department announced the hefty winning bid Thursday for  the 74-acre parcel near Hayden Road and the Loop 101 freeway. The $49.1 million bid came from Axon Enterprise. The proceeds will go into the Permanent Land Endowment Trust Fund, which invests in K-12 education in Arizona. Land Commissioner Lisa Atkins says the department could not be “more pleased” with the sale. The land had a far lower appraised market value of more than $17 million. Axon plans to build infrastructure, including water and sewer access, on it.
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KNAU and Arizona News educationArizonaschoolsState Land DepartmentScottsdale
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