BULLHEAD CITY – Just under 270-acres of public land in the heart of Bullhead City was sold at auction on Thursday, Dec. 17. Bidding for the Arizona State Land Department sale took place near the steps of the Mohave County Courthouse in Kingman.
Bullhead City based CSQH95LLP and local developer Elio Khalife, owner of First American Investment, were the only participants in the auction where the appraised value of $1.52 million was the minimum bid.
Amanda Calkins, representing CSQ H95 LLP, started at the minimum and upped her bid each time by the minimal increment of $10,000. Khalife bumped up his bids by larger increments on several occasions before tapping out at $2,410,000, nearly $900,000 above the minimum purchase price.
“I’m out. It’s not worth it,” Khalife said.
The property is bounded by SR 95, Marina Boulevard and Lakeside and Riverview Drive.
“It’s an investment property at this point. I would say that there’s definitely going to be big plans for it down the road. As of right now we wouldn’t be at liberty to discuss that because we don’t quite have it lined up yet,” said Robert Barge of CSQ H95 LLP. “We look forward to doing something useful with the land that’s going to be good for the community.”
Bullhead City manager Toby Cotter was among the 8 people who attended the auction. Cotter previously said city government would consider mixed development acceptable at the site.
Dave Hawkins
