TUCSON, Ariz. (KOLD News 13) - At an auction on Sep. 10, 2020, the Arizona State Land Department sold 74 acres of State Trust Land in Scottsdale to a winning bid of almost $42 million- exceeding the appraised market value by more than $17 million.
The parcel of land is directly across the Loop 101 from State Trust Land sold in 2018, where a Nationwide company is building a regional headquarters.
Axon Enterprise, a company that develops technology and weapons for law enforcement and civilians, will build an infrastructure on the 74 acres and is required to finish Mayo Boulevard through the parcel.
Unlike auctions where an interested party approaches ASLD to file an application to purchase, the urban acres were offered for sale to the public directly.
“The Land Department is very happy we can continue to be part of the vibrant economic development in Scottsdale and we expect the sale of this parcel will lead to more growth,” Land Commissioner Lisa Atkins said.
“Our mission in selling State Trust Land is to obtain the highest value for Beneficiaries and I couldn’t be more pleased with today’s auction outcome,” Atkins added.