Biggest Land Sale In Arizona History

Chrylser, in a $400 million deal, has sold its proving ground facility outside Phoenix to real estate developers. The land could support tens of thousands of residents.

1 minute read

September 30, 2005, 2:00 PM PDT

By Brenda Meyer


"Real estate analysts value the deal at more than $75,000 an acre. DaimlerChrysler's proving grounds is mostly vacant, unimproved land. It has a few office buildings and laboratories along with the paved test tracks and other vehicle-testing areas.

The site needs enough water and sewer capacity to house a community with tens of thousands of residents, so its owners are talking to nearby cities such as Surprise about annexing it."

Friday, September 30, 2005 in The Arizona Republic

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