By Ron Davis | Phoenix Business Journal
Michael Lieb’s firm, Legacy 76 LLC, won 20.5 acres of north Scottsdale land on (March 8) at the Arizona Land Department building. The minimum bid was $28.07 million, which is what Lieb’s company paid for the land as no others raised a paddle.
The auction lasted just over two minutes.
“It doesn’t get much better than north of the 101 with three hospitals and Nationwide,” Lieb said. “I had butterflies in my stomach as if it was the World Series because you spend so much time getting prepared for this day. You never know what’s going to happen.”
Valley-based real estate developer Talos Holdings was the initial applicant, requesting the Arizona State Land Department to consider selling the parcel at the northwest corner of Legacy Boulevard and Miller Road, just north of Loop 101 in Scottsdale. The firm registered to bid but ultimately decided not to raise a paddle for the land on Wednesday morning.
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