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