$549,000 per acre for 125 acres near Loop 101 and Bell Rd

by John Wake on May 26, 2007

In the mid-1970’s the media had a complete conniption over how motorcycles and off road vehicles were “destroying” the desert in that area. Now that it’s bulldozers leveling the land, the newspapers aren’t complaining.

Don’t get me wrong. I’m not complaining about the future development of this land. I’m complaining about newspapers and TV stations.

Scottsdale Vistella LLC placed the winning bid of $68.5 million Thursday for 125 acres of undeveloped state trust land northeast of Loop 101 and Bell Road.

The developer of offices and assisted living homes in the Valley and New York was the only firm that bid on the land, which also was appraised at $68.5 million, or $549,000 per acre.

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