Verde Investments placed its final bid of $135 million before Mortenson ended the auction with its winning $136 million bid.

Land in northeast Phoenix where the Arizona Coyotes once hoped to build an arena was sold to a Minnesota-based commercial ...

Mortenson acquired 217 acres of Phoenix real estate for $136 million, outbidding Verde Investments in a state land auction, ...

Verde Investments Inc., owned by billionaire Ernest Garcia II, purchased the remaining 34 acres of the former Fiesta Mall in Mesa for nearly $24 million.

A Minnesota-based commercial developer dropped $136 million to end a bidding war on land in northeast Phoenix that the Arizona Coyotes once desired.

Minnesota-based Mortenson Co. purchased 217 acres in northeast Phoenix for $136 million. The land was formerly sought by the Arizona Coyotes for a new arena, but plans fell through.

Minnesota-based Mortenson Co. purchased 217 acres in northeast Phoenix for $136 million. The land was formerly sought by the Arizona Coyotes for a new arena, but plans fell through.

Minnesota-based Mortenson Co. purchased 217 acres in northeast Phoenix for $136 million. The land was formerly sought by the Arizona Coyotes for a new arena, but plans fell through.

Minnesota-based Mortenson Co. purchased 217 acres in northeast Phoenix for $136 million. The land was formerly sought by the Arizona Coyotes for a new arena, but plans fell through.