Mesa is on the verge of inking a deal to sell a $5.5 million property to a Las Vegas developer who envisions building a commercial and residential development in east Mesa.

The 14-acre property is part of a larger city-owned parcel of desert on the northeast corner of McDowell and Recker roads that is now home to a large municipal water tank that serves the Red Mountain area.

That’s almost $400,000 per acre.