$400 Million Chrysler Land Sale An Arizona Record

Sprawl squeezes Chrysler Proving Grounds out and sets a record dollar amount for a land sale in Arizona...

The Arizona Republic reports that the 5,500-acre Chrysler Proving Grounds north of Surprise was sold for $400 million to what market watchers are saying is an investment group with Las Vegas and Los Angeles ties. Plans are for a new master-planned community like the West Valley's Verrado development. The land won't have any homes for at least two years. More...