The site at 14801 N. Scottsdale Rd., sold by the Bloomington,IL-based State Farm Mutual Automobile Insurance Co., holds an8,000-sf vacant building that formerly housed a collision and claimbusiness, says Brian Black, vice president in Phoenix forDallas-based Trammell Crow Co. Black and TCC associate Mike Kitlicanegotiated on behalf of the Detroit-based Comerica while State Farmrelied on in-house representation to steer its talks.

"Comerica is seeking highly visible sites across the Valley thatwill give them exposure, and it's almost impossible to find landthat fronts Scottsdale Road," Black says. He tells GlobeSt.com thatComerica plans to raze the vacant building, build a 5,000-sfbanking center on one acre and sell the balance of the land. Hepredicts the acreage will get $20 per sf to $35 per sf.

Comerica is in the midst of the design review with the city. Theplan is to break ground in first quarter 2005 and occupy in thesummer.