ARIZONA LAND AUCTION RECORD RESULTS

Over the past 4 months the Arizona State Land Department as achieved 2 record land sales and a record breaking lease.
On April 17, 2007 the Land Department auctioned 269 Desert Ridge (North Phoenix) acres for $149 million. This produced the highest land sale price in the Department's history.
On May 24, 2007 the Land Department leased 124 commercial acres in Scottsdale for $68.5 million.
On May 31, 2007 the Arizona State Land Department set a department record for highest price paid per acre. The Department sold 26 high density residential acres for $28.5 million. This price was 36% greater than appraised value.