The Arizona Republic is reporting that
has finally sold of the last 3,200-acre chunk of its
in east Mesa, AZ to a company called DMB Associates for $265 million.
sold the first 1,800 of the 5,000-acre property to William Lavine, a developer from Phoenix who made his money from billboards, back in 2004. DMB Associates, for its part, will likely put up housing and commercial sites on the property. Most likely the newly developed land will do more for the Mesa area than the proving grounds ever did, despite the loss of income from spy photographers who now have no reason to visit the area.
We reported on the potential sale of this property back in June, and one reader from the area in question
that Mesa was particularly interested in moving GM off of the remaining 3,200 acres because it had lost its title of "Fastest Growing City in Arizona" to a town called Gilbert next door. With 3,200 of land ripe for development and expansion, Gilbert's going down.
[Source: The Arizona Republic via
GM Inside News