Triway Land Investors LLC, which includes Scottsdale-basedStratford American Corp., Tucson-based Diamond Ventures Inc. andScottsdale-based Colonial Development LLC, has purchased a 10-acreparcel for an undisclosed amount. The property is located at 92ndSt. and Raintree Drive, just east of the newly opened Loop 101Freeway.

The JV plans to begin construction within the next six months on10 single-story, freestanding, office-condominium buildings,ranging in size from 7,800 sf to 19,000 sf. The total squarefootage planned is 100,000 sf. The buildings will be offered forsale in the middle of next year, say company representatives, withcompletion of construction by the fourth-quarter of 2002.

A host of new office development has sprung up in northScottsdale around Loop 101 since the freeway interchange was openedmore than a year ago. With the new interchange, business owners andexecutives living in upscale Scottsdale are beginning to relocatetheir operations there, since workers who live in less expensivehousing areas can now can conveniently commute to the area.

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