The Arizona Department of Transportation recently completed the largest sale of excess property in the agency’s history to help fund an interstate widening project.
The 21-acre parcel of lane sold for $28.7 million, which will be used to widen Interstate 10 in Phoenix. Specifically, ADOT will widen the portion of I-10 that runs between state Route 202 and the I-17 interchange. Construction is scheduled to begin in 2021.
The parcel itself, which is home to several buildings, is located on the north side of I-10 near Phoenix Sky Harbor International Airport.
ADOT’s largest excess land sale will help fund Interstate 10 widening in Phoenix. Agency sells parcel near Sky Harbor Airport for $28.7 million. bit.ly/2D4qLA1Posted by Arizona Department of Transportation on Monday, September 17, 2018
“Our engineers determined how much of the property would be needed for I-10 widening,” said Michael Craig, manager of ADOT’s office of property management. “The timing was right to sell the excess portion and put those dollars into the upcoming project’s budget.”
Exeter, a Philadelphia-based property group, beat out seven other bidders in the purchase of the land parcel. ADOT advertised the property earlier this year and led several tours for prospective buyers. The agency had owned the property since 2011. Several firms, including cabinetry and shipping companies, have been leasing space on the property.
Under an agreement with ADOT, Exeter will remove sections of three buildings on the land that extend into the area the agency will need for the I-10 widening.
I-10 winds east to west through southern Arizona. The route has been the subject of several improvement projects in anticipation of growth in the area. Arizona DOT projects that traffic volumes on I-10 will increase by 50% by 2045.
For example, ADOT and the Federal Highway Administration are working to widen a 3-mile stretch of I-10 in Picacho, 65 miles southeast of Phoenix. ADOT is conducting a study to construct a diverging diamond interchange at the intersection of I-10 and Houghton Road, an important north-south corridor in Tucson. ADOT studies show that Houghton Road can expect a 500% increase in traffic on the portion of the route that stretches north of I-10 and a 200% increase in traffic on the portion south of I-10.