"Our analysis of the five-mile ring around that site is thatthere's maybe two parcels actually for sale," Jim Riggs, presidentof Saxa Inc. tells GlobeSt.com, adding that both are smaller thantwo acres. "It's definitely one of the last large pieces left.That's why we're being careful about what we develop there." Theas-yet unnamed project at 100th Street and Frank Lloyd WrightBoulevard is anticipated to break ground in first quarter 2008,with the space coming on line late in the year.

Saxa acquired the land in an Arizona State Land Departmentauction. Riggs says his company was the only bidder. Unlike otherland department auctions, the land was for sale and not availableas a long-term lease. "When the state announced they would releaseit, we kept an eye on it," Riggs adds.

Riggs says that project's price points and lease rates are beingcalculated. Saxa plans to build office condos ranging from 2,500 sfto 20,000 sf. He says Saxa would like to do more Scottsdale dealstoo, if they're available. "But there isn't a whole lot left tolook at right now," he adds.