The announcement of Taiwan Semiconductor’s new fab in north Phoenix has sparked a surge in land speculation. According to AZBEX, the Arizona State Land Department is preparing to auction off over 2,340 acres of land located southwest of Interstate 17 and Carefree Highway. This prime location sits adjacent to the upcoming campus of Taiwan Semiconductor Manufacturing Company.
Qualified bidders have already shown great interest in this auction, with a short but impressive list including Mack Real Estate Group (MREG), W Holdings (affiliated with the Wolfswinkel Family), and ViaWest Group. The minimum bid for this site is set at $56 million, though it is expected that the final bid will be much higher.
A recent report from Gruen Gruen + Associates revealed that this parcel could accommodate up to 10 million square feet for industrial development, 12.8 million square feet for office space, 4.4 million square feet for retail space, hotel accommodations up to 568 rooms and nearly 9
