PHOENIX — The Mayo Clinic purchased 228 acres of land adjacent to its north Phoenix campus at an Arizona State land Department auction Wednesday morning in a deal that clinic leadership said has been years in the making.
Dr. Richard Gray, CEO of Mayo Clinic in Arizona, was the bidder on behalf of Mayo at the auction, and Mayo was the only group to place a bid on the land, which sold for the appraised value of $139.75 million. The land is on the east side of 56th Street and south of Loop 101. It is north and east of the existing Mayo Clinic campus.
Gray said Mayo Clinic had always looked at the idea of expanding since it first bought land in north Phoenix in 1998 but had really begun to focus on it in the last decade. Mayo Clinic already has a massive $748 million, expansion project underway, which is dedicated to patient care, research and education, Gray said. Plans for the new land will “complement” that expansion.
Read more of this story from the Phoenix Business Journal.