Orsett plans to start construction in the second half of the year on a 171,600-sf back-office project. The project is expected to be available for lease by early 2002. The Summit Venture Pinnacle Group, led by Barry Zemel, sold the land. The Phoenix office of Cushman & Wakefield, with brokers Bob Lundstedt and Ashley Brooks, negotiated the land sale and are handling the leasing of the back-office building.

Office and back-office projects have been flocking to the northeast Valley over the past three years, as more residential development has shifted in that direction and new freeways have opened up the area to convenient transportation.

Loop 101, which runs east and west through north Phoenix and Scottsdale and north/south along the eastern edge of Scottsdale, has attracted more office development, as sections have opened or have neared opening. The section of the Loop 101 that will connect Interstate 17 to Cave Creek Road, which is east of Seventh Street, is scheduled to be open by April 2001.

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