SunCor's Utah site sold for $3.4 million

Pinnacle West Capital Corp.'s real-estate subsidiary has sold one of its holdings to the Utah School and Institutional Trust Lands Administration, which agreed to pay $3.4 million to buy SunCor's stake in a resort community near St. George, Utah. Pinnacle West announced in April 2009 it would try to sell many of its real-estate holdings to focus on its core business: providing electricity through subsidiary Arizona Public Service Co. SunCor Development Co. officials at the time said they would keep about $70 million in commercial real-estate holdings and sell about $400 million in housing assets, but spokesman Alan Bunnell said Tuesday it's all for sale now, including all the remaining SunCor property at Hayden Ferry Lakeside in Tempe.

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