Business Real Estate Weekly by Rose Law Group
Scottsdale – While the value of the assembled land for the ever-growing Scottsdale National Golf Club may be difficult to gauge, there is now some clarity for the value of at least part of the property. With the latest purchase of two parcels totaling 49.83 acres, entities controlled by Valley entrepreneur Bob Parsons now own 563 acres in the high Sonoran Desert of northeast Scottsdale. The properties assembled by Parsons are bounded by Dixeletta Drive and Dynamite Boulevard (Rio Verde Drive) on the north and south and between 122nd Street and 116th Street (alignment) on the east and west. Scottsdale National Golf Club LLC and other companies formed by Parsons have been assembling the pristine land, which is nestled between the McDowell Mountains and the foothills of the Tonto National Forest. In two cash
transactions recorded this week, Scottsdale National Golf Club LLC paid $5.79 million ($116,189 per acre blended) to buy nearly 50 acres. The parcels are along the west side of 118th Street and north of Via Dona Road. The undeveloped tracts, which are west of Scottsdale National Golf Club, were sold by private owners. Maricopa County records show the Estate of Joseph A. Fiore in Cincinnati, Ohio (Mary Kristina Fiore, executrix) sold 29.8 acres for $2.323 + million ($78,000 per acre). That parcel, located north of Dynamite Boulevard, has an address of 11700 E. Via Dona Road. Hayland Investments LLLP in Scottsdale (David Hay, principal) sold 20.04 acres in a $3.466 million deal ($172,959 per acre). That parcel is contiguous north of the Fiore tract and west of 118th Street. Parsons’ representatives could not be reached at press time to discuss the newly-acquired land or comment on any other parcels that are included in the assemblage of the private Scottsdale National Golf Club. Continued
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