Orsett Properties Ltd. of Wellesley, MA, purchased a 5.7-acreparcel at the southwest corner of 7th Street and the Loop 101 innorth Phoenix for $1.73 million. The company plans to beginconstruction in the first quarter of 2001 on the Pima CorporateCenter, a two-story office project. Completion is scheduled for thethird-quarter. Development costs on the building are projected at$9 million.

Loop 101, which runs east/west through north Phoenix andScottsdale and north/south along the eastern edge of Scottsdale,has attracted more and more office development as sections haveopened or have neared opening. The section of the Loop 101 thatwill connect to Interstate 17 to Cave Creek Road, which is east of7th Street, is scheduled to be open by April 2001.

Space in the Pima Corporate Center will lease for approximately$21.50 a square foot.