By Hailey Mensik | Phoenix Business Journal (abridged)
The Arizona State Land Department is preparing to auction off another chunk of prime land it owns in the Desert Ridge area.
About 294 acres off 40th Street and Deer Valley Drive will go up for auction in 2026.
The appraised value of the site, which is typically the starting bid, is $108,284,000, or about $368,400 per acre, according to documents submitted with the ASLD.
Documents also show that the applicant plans to develop the site for residential uses, and the property is already zoned for that.
The applicant is AZ18 LLC, an entity tracing to Michael Lieb. Lieb is president and CEO of Phoenix-based Michael A Lieb Ltd.
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