BUCKEYE, AZ — Dozens of people crowded into a conference room on Feb. 4 at the Arizona State Land Department to witness a bidding war over 272 acres in Buckeye.
Bidding started at $42,050,000 for the two parcels of land that span north and south of Interstate 10 near a growing shopping hub where more than 1 million square feet is under development.
Two representatives with applicant Sunbelt Investment Holdings Inc. sat in the front row, and the auction began at noon with the company's principal, Luis-Ferdinand Mann, raising his paddle and starting with the minimum bid.
But before long, Conley Wolfswinkel, real estate mogul and founder of Tempe-based W Holdings, raised his paddle and announced a $43,050,000 bid. The two went back and forth until the bid reached $62,500,000. At that point, Wolfswinkel got up from his seat and congratulated Sunbelt on the win.
