Arizona State Land Department set to Auction Infill Land Parcel
The AZ State Land Dept is going to auction a 64-acre parcel at the SW corner of 40th St and McDowell Rd on June 17th. The land was once proposed as the site for the AZ Diamondbacks’ stadium and, later, the AZ Cardinals’ football stadium. The D-backs now play at Chase Field downtown and the Cardinals new stadium was completed last year in Glendale.
The land is zoned for commercial, retail, and residential, though I expect it will ultimately be utilized for retail or commercial purposes.
The ASLD commented that the only remaining Phoenix real estate or Scottsdale real estate infill projects remaining besides this one are located at 27th Ave and South Mountain Park and 19th Ave and Bell Rd in the North Valley.
Participants in the auction are required to bring a $2.4M certified check to be eligible to bid. The land has been valued at about $312,600 per acre. Easy access to highway transportation and Central Phoenix should ensure that this will be an interesting auction.