Real Alliance, a Scottsdale-based development firm, is expectedto close by January on a 16-acre parcel at the southwest corner ofBell Road and Loop 101. The projected price for the parcel isnearly $9 million, according to industry sources.
Real Alliance plans to build a total of 40,000 sf ofoffice-condominium space, of which 14,000 sf will be built in thefirst phase of development scheduled to begin in the first quarter.Four, 10,000-sf buildings are planned, with shell buildings pricedat $170 per sf. Construction is expected to be completed byyear-end 2001.
Site plans also calls for one 30,000-sf and two 25,000-sf officebuildings. A freestanding retail pad of 6,000 sf of retail spacealso will be located on the site.
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