Earlier this year, Koll closed on the parcel in the Perimeter Center, an office park at the corner of Bell Road and Loop 101. The Phoenix-based developer paid $12 a square foot for the land.
The project is working its way through the building permit process and is scheduled to see construction activity by November 1, says Kevin Schuck, vice president of development for Koll. "We just think the timing is right for not only this product, but for our specific project," he says.
The complex, called Koll Perimeter Center, will consist of two, 105,000-sf office buildings separated by a landscaped open area. The buildings are schedule to be ready for occupancy by August 2001.
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