By Phineas Hogan | Phoenix Business Journal
A once-unwanted 39.37 acre plot in Deer Valley failed to sell at auction last year. On Sept. 22, it spurred a bidding war and went for almost $6 million above the minimum at an Arizona State Land Department auction.
Chicago-based Conor Commercial Real Estate ultimately acquired the land on the southwest corner of Deer Valley Road and 7th Street for $24.715 million. Joined by investors at Arizona-based Globe Corporation, the team outlasted four other bidders who drove the price up from its initial appraisal of $18.915 million.
