Arizona State Trust land at the northwest corner of Hayden Road and Loop 101 in Scottsdale has been sold to Nationwide Realty Investors, who was the successful bidder during the public auction of the 134-acre parcel. The final bid price was $83 million.
In June the Scottsdale City Council approved an infrastructure agreement with Nationwide Realty Investors, the real estate development affiliate of Nationwide Mutual Insurance Company, contingent on the firm’s successful bid for the parcel. Nationwide plans to build a corporate campus on the site, which will be built to accommodate 2,200 people, with room to grow to 3,000 over time. Additional office, hotel and retail spaces are planned as well.
“The success of the state land auction yesterday is significant to the future development of the city of Scottsdale,” said Mayor W.J. “Jim” Lane. “Nationwide’s planned campus secures thousands of jobs for Scottsdale with the potential for even greater economic impact in the long term – we are eager to begin working with them.”
State Trust land like that in this auction is held in trust and managed for the sole purpose of generating revenues for the 13 State Trust land beneficiaries, the largest of which is Arizona’s K-12 public schools. Learn more at land.az.gov.
For more information about the City of Scottsdale and Economic Development, visit ChooseScottsdale.com.