Mesa Arizona Parcel Sells For $75.2 Million

The Phoenix Business Journal reports that yesterday's State land auction for a 717 acre parcel of land at McKellips and Ellsworth Roads in Mesa resulted in a $75.2 million winning bid for Phoenix Land Division, LLC. That calculates to $104,881 per acre. The site is zoned for single family homes. This shows the strong demand for residential land in the SE Valley. While land in Phoenix is typically expensive, this deal is a big boost for Mesa. More...