Arizona state land sales nearly double to $817.8M, fueled by major auctions Article originally posted on Phoenix Business Journal on August 7, 2026 To see where future growth in the Valley is focused, pay attention to the land auctions. Business is very good these days. The Arizona State Land Department just reported a record-setting year, bringing in $817.8 million through land sales and leases in the fiscal year that ended June 30. That’s nearly double what it brought in in the previous fiscal year, which was close to $452 million. A handful of major auctions drove the surge in dollar amounts and involved notable buyers, including Taiwan Semiconductor Manufacturing Co., the city of Peoria and several local and national real estate developers. TSMC’s Arizona campus – which is currently in operation with new phases under construction on formerly owned state land – is driving continued growth in the north Phoenix area. That portion of the city is rife with undeveloped, state-owned land and drew some of the largest auctions the last fiscal year. Ultimately, the past few years have been the most profitable stretch in the ASLD’s history, with $1.58 billion in revenue generated since FY 2023. Those earnings go toward funding a number of state programs, mostly K-12 public schools. The ASLD also auctioned seven solar leases in its past fiscal year – more than it ever has before in a single year, according to its FY 2026 report, as demand for power to operate data centers only grows. The leading deals Here’s a look at the top land sales overseen by ASLD from July 2025 through June 2026: • Peoria Innovation Core: Last August, the city of Peoria was the winning and only bidder for an 834.5-acre parcel, spending $46.7 million. Following the win, the city announced that Tempe-based Amkor would build its semiconductor testing and packaging campus on the newly acquired land. The city purchased the site to kickstart its Peoria Innovation Core project – a more than 7,300-acre future mixed-use technology and manufacturing district that the city officially rezoned earlier this year. The rest of the PIC acreage remains state land, though it is expected to be up for grabs at future auctions. • TSMC’s campus expansion: In January, TSMC was the winning and only bidder for a 900-acre parcel directly south of its initial campus site. It paid $197.25 million, which was the starting bid. It’s planning to expand its campus on the property and recently announced an additional $100 billion investment in its campus, bringing the total investment to a whopping $265 billion. • Sunbelt wins Buckeye land: In February, the ASLD auctioned off a 272-acre parcel near a growing retail district off Interstate 10 in Buckeye, with a starting bid of $42,050,000. San Diego-based Sunbelt Investment Holdings Inc. triggered the auction and ultimately placed the winning bid of $62,500,000, after going back and forth with one other bidder — Conley Wolfswinkel, real estate mogul and founder of Tempe-based W Holdings. • East Coast investor swoops in on site near TSMC: One auction had a surprising twist in June – the final month of the ASLD’s fiscal year – when an East Coast investor showed up and outbid Vestar on two sites the Phoenix-based developer planned to acquire for mixed-use retail developments. The first site, totaling about 186 acres off Interstate 17 and Dove Valley Road, had a $36.6 million starting bid. Vestar traded bids with Arlington, Virginia-based Taicoon Property Partners in million-dollar increments briefly, but Taicoon ultimately won with its $43 million bid. The second site, totaling about 181 acres off Interstate 17 and Carefree Highway, had a similar starting bid of $36.7 million. Vestar and Taicoon again exchanged bids, along with a third bidder – Mack Real Estate Group. Taicoon won again, placing the winning bid of $45 million for the second site. Find Complete Article Here: https://www.bizjournals.com/phoenix/news/2026/08/07/az-state-land-revenue-2026.html