State trust land sold at auction for $2 million

Amid some confusion, the head of a Seattle-based firm was the winning bidder Tuesday for 4.7 acres of state trust land in Scottsdale. Perry Koon bought the parcel northeast of Loop 101 and Frank Lloyd Wright Boulevard for the minimum bid of $2.15 million or $451,681 per acre. His company is Koon-Boen Inc. Koon could not be reached for comment on his plans for the commercial site he acquired from the Arizona State Land Department. A second bidder, BYPG Holdings LLC, represented by broker George Haugen, thought it had signaled the only bid during the two-minute auction. But auctioneer Dana Brown recognized Koon's bid first with the No. 4 paddle.

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