UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

     For the quarterly period ended September 30, 2000

[ ]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE  SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from ________________ to _______________

                         Commission File Number 0-17626
                         Commission File Number 0-17853

                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP
                                       and
                    FFCA INVESTOR SERVICES CORPORATION 88-B
               ---------------------------------------------------
               (Exact Name of Co-Registrants as Specified in Their
                            Organizational Documents)


            Delaware                                        86-0588512
  -----------------------------------               ----------------------------
  (Partnership State of Organization)               (Partnership I.R.S. Employer
                                                        Identification Number)

            Delaware                                        86-0588514
  -----------------------------------               ----------------------------
  (Corporation State of Incorporation)              (Corporation I.R.S. Employer
                                                        Identification Number)

         The Perimeter Center
      17207 North Perimeter Drive
          Scottsdale, Arizona                                    85255
----------------------------------------                      ----------
(Address of principal executive offices)                      (Zip Code)


      Co-Registrants' telephone number including area code (480) 585-4500

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No [ ]
<PAGE>
                         PART 1 - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS.

                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                                 BALANCE SHEETS
                    SEPTEMBER 30, 2000 AND DECEMBER 31, 1999
                                   (Unaudited)

                                                   September 30,   December 31,
                                                       2000            1999
                                                    -----------    ------------
                                     ASSETS
LAND:
  Held for sale                                     $ 1,105,172    $  5,109,126
  Subject to sale agreements                                 --       3,118,364
  Subject to sale agreement with affiliate                   --         788,287
                                                    -----------    ------------

       Total land                                     1,105,172       9,015,777

LOAN RECEIVABLE FROM AFFILIATE                               --       7,598,415

CASH AND CASH EQUIVALENTS                             9,845,165      16,667,333

PREPAID EXPENSES AND OTHER                              227,624         159,228
                                                    -----------    ------------

       Total assets                                 $11,177,961    $ 33,440,753
                                                    ===========    ============

                       LIABILITIES AND PARTNERS' CAPITAL

DISTRIBUTION PAYABLE TO LIMITED PARTNERS            $ 7,042,057    $ 14,314,676

ACCOUNTS PAYABLE AND ACCRUED EXPENSES                   185,425         163,786
                                                    -----------    ------------

       Total liabilities                              7,227,482      14,478,462
                                                    -----------    ------------
PARTNERS' CAPITAL (DEFICIT):
  General partner                                        12,320          (3,844)
  Limited partners                                    3,938,159      18,966,135
                                                    -----------    ------------

       Total partners' capital                        3,950,479      18,962,291
                                                    -----------    ------------

       Total liabilities and partners' capital      $11,177,961    $ 33,440,753
                                                    ===========    ============

                                       1
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                            STATEMENTS OF OPERATIONS
         FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                          Three Months Ended            Nine Months Ended
                                                      --------------------------     -------------------------
                                                        9/30/00        9/30/99         9/30/00       9/30/99
                                                      ----------    ------------     -----------    ----------
<S>                                                   <C>           <C>              <C>            <C>
REVENUES:
  Land sales                                          $6,248,402    $  2,058,710     $22,485,614    $2,058,710
  Interest on loan to affiliate                               --         212,500         283,458       637,500
  Additional interest from affiliate                          --              --       1,130,058            --
  Interest on investments and other                      206,883          42,905         630,445        89,241
                                                      ----------    ------------     -----------    ----------

                                                       6,455,285       2,314,115      24,529,575     2,785,451
                                                      ----------    ------------     -----------    ----------
EXPENSES:
  Cost of land sales                                   2,694,260       1,025,906       9,123,926     1,025,906
  General partner fees                                    23,074          61,831          98,987       186,217
  Property management fees                                 9,000           9,000          27,000        27,000
  Marketing                                                   --           1,950              --        10,499
  Property taxes                                          16,076         (22,412)         47,943        67,017
  Other operating                                         94,022          63,584         253,650       196,202
                                                      ----------    ------------     -----------    ----------

                                                       2,836,432       1,139,859       9,551,506     1,512,841
                                                      ----------    ------------     -----------    ----------

NET INCOME                                            $3,618,853    $  1,174,256     $14,978,069    $1,272,610
                                                      ==========    ============     ===========    ==========
NET INCOME ALLOCATED TO:
  General partner                                     $      647    $      1,415     $    16,164    $    2,398
  Limited partners                                     3,618,206       1,172,841      14,961,905     1,270,212
                                                      ----------    ------------     -----------    ----------

                                                      $3,618,853    $  1,174,256     $14,978,069    $1,272,610
                                                      ==========    ============     ===========    ==========
NET INCOME PER LIMITED PARTNERSHIP UNIT
 (based on 50,000 units held by limited partners)     $    72.36    $      23.46     $    299.24    $    25.40
                                                      ==========    ============     ===========    ==========
</TABLE>

                                       2
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                    STATEMENT OF CHANGES IN PARTNERS' CAPITAL
                  FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                     Limited Partners
                                      General      ----------------------
                                      Partner      Number                        Total
                                       Amount     of Units      Amount           Amount
                                      --------     ------    ------------     ------------
<S>                                  <C>          <C>       <C>              <C>
BALANCE, December 31, 1999            $ (3,844)    50,000    $ 18,966,135     $ 18,962,291

  Net Income                            16,164         --      14,961,905       14,978,069

  Distribution to Limited Partners          --         --     (29,989,881)     (29,989,881)
                                      --------     ------    ------------     ------------

BALANCE, September 30, 2000           $ 12,320     50,000    $  3,938,159     $  3,950,479
                                      ========     ======    ============     ============
</TABLE>

                                       3
<PAGE>
                    SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                            STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                        2000              1999
                                                                    ------------       -----------
<S>                                                                 <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                                        $ 14,978,069       $ 1,272,610
  Adjustments to net income:
   Gain on sale of property                                             (113,298)               --
   Change in assets and liabilities:
    Decrease in land held for sale                                     4,003,954         5,393,550
    Decrease (increase) in land subject to sales agreements            3,118,364        (4,502,174)
    Decrease (increase) in prepaid expenses and other                    (68,396)          147,960
    Increase (decrease) in accounts payable and accrued expenses          21,639           (51,966)
                                                                    ------------       -----------

           Net cash provided by operating activities                  21,940,332         2,259,980
                                                                    ------------       -----------
CASH FLOW FROM INVESTING ACTIVITY:
  Receipt of loan payoff from affiliate and sale of
   related parcel                                                      8,500,000                --
                                                                    ------------       -----------

           Net cash provided by investing activity                     8,500,000                --
                                                                    ------------       -----------
CASH FLOWS FOR FINANCING ACTIVITIES:
  Limited partner distributions declared                             (29,989,881)       (1,923,680)
  Increase (decrease) in distribution payable                         (7,272,619)        1,482,680
                                                                    ------------       -----------

           Net cash used in financing activities                     (37,262,500)         (441,000)
                                                                    ------------       -----------

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                  (6,822,168)        1,818,980

CASH AND CASH EQUIVALENTS, beginning of period                        16,667,333         2,292,149
                                                                    ------------       -----------

CASH AND CASH EQUIVALENTS, end of period                            $  9,845,165       $ 4,111,129
                                                                    ============       ===========
</TABLE>
                                       4
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

     In the second  quarter of 2000 a proposal was passed by a majority  vote of
the investors of Scottsdale Land Trust Limited  Partnership  (the Registrant) to
dissolve the  partnership  upon the sale of the remaining  land  parcels.  As of
October 31, 2000,  one land parcel remains  available for sale.  Once all of The
Perimeter  Center parcels are sold, the Registrant will liquidate and distribute
its assets in accordance with the partnership agreement.  The general partner of
the Registrant intends to deposit funds in a liquidating trust until the general
partner determines that all contingent  liabilities have been paid or that there
are no outstanding or contingent  liabilities.  After payment of all outstanding
or contingent  liabilities,  the remaining trust funds, if any, will be returned
to the  investors in the same manner as required for  liquidating  distributions
under  the  partnership  agreement.  The net  amount  ultimately  available  for
distribution  to the investors  depends on various  factors,  such as the actual
cost of the  liquidation  and the  amount  of  interest  income  from  temporary
investments  received  by  the  Registrant  until  completely  liquidated.  Cash
reserves remaining in the Registrant total approximately $2.6 million.

     During the quarter ended September 30, 2000 (the "period"),  the Registrant
closed  two  land  sale   transactions   comprising   two  parcels   aggregating
approximately  11  acres.  One of the land  sales was to an  unaffiliated  third
party,  and the other was a land sale to the Registrant's  affiliate,  Franchise
Finance  Corporation  of America  (FFCA).  This related  party sale was approved
earlier this year by a vote of the  investors of the  Registrant.  The land sale
transactions during the period provided cash sale proceeds of approximately $6.2
million.  The parcels had a total  original cost of $2.4 million and closing and
other costs of  approximately  $325,000.  These parcel  sales  resulted in gains
totaling  approximately $3.5 million.  Distributions  declared during the period
amounted to  approximately  $7 million,  representing  the net proceeds from the
parcel  sales  during  the  quarter  and the  limited  partners' portion  of the
additional interest received from FFCA upon payoff of its note in May.

     At October 31, 2000,  one  remaining  land parcel  (approximately  6 acres)
remains available for sale and the Registrant is in preliminary negotiations for
the sale of this parcel. Once this remaining parcel is sold, the Registrant will
liquidate and distribute its assets in accordance with the partnership agreement
and deposit the remaining funds in the liquidating  trust. The liquidating trust
would be available to satisfy claims made directly or indirectly with respect to
the liquidation of the Registrant for a period of up to 24 months  following the
effective  date of the trust  agreement,  at which time, as long as there are no
unresolved  claims,  the  remaining  balance  of the  liquidating  trust will be
disbursed to the investors.

     Revenues totaled approximately $6.5 million for the quarter ended September
30, 2000, as compared to approximately  $2.3 million for the comparable  quarter
in 1999.  Total  revenues  for the nine  months  ended  September  30, 2000 were
approximately  $24.5 million as compared to  approximately  $2.8 million for the
same  period  in 1999.  Revenues  in 2000  were  higher  because  more land sale
transactions  closed  during  that  period  as  compared  to 1999.  There was no
interest  income on the loan to an affiliate  during the quarter ended September
30,  2000,  due to the  maturity and payment in full of the loan on May 1, 2000.
Interest  on  investments   and  other  income  for  the  period   increased  by
approximately  $164,000 from the comparable quarter of the prior year due to the
increase in temporary  investment  securities held during the period. The higher
cash  balance  in 2000  resulted  from net land sale  proceeds  held  during the
quarter  prior to  distribution  of the cash to the  investors.  Total  expenses
(excluding the cost of land sales)  increased by  approximately  $28,000 for the
quarter ended September 30, 2000 over the comparable  quarter of the prior year.
Year-to-date  expenses  (excluding the cost of land sales)  decreased by $59,000
for the  nine-month  period from the  comparable  period of the prior year.  The
increase during the quarter resulted from payment of professional  services. The
decrease during the nine-month  period is primarily due to decreases in property
taxes,  repairs and  maintenance,  and general partner fees.  Property taxes and
repairs  and  maintenance  expenses  decreased  due to the sale of land  parcels
during the past nine months. The general partner fee decreased from the

                                       5
<PAGE>
comparable  period of the prior year  because  the fee is based on Assets  Under
Management,  as defined in the partnership  agreement,  and as parcels are sold,
the general partner fee is reduced accordingly.

     In the opinion of management,  the financial  information  included in this
report  reflects  all  adjustments  necessary  for fair  presentation.  All such
adjustments are of a normal recurring nature.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

     The  financial  instruments  held by the  Registrant  at September 30, 2000
consist of cash equivalents.  The Registrant  intends to hold the investments to
maturity;  therefore,  these financial instruments do not subject the Registrant
to a material exposure to changes in interest rates.

                                       6
<PAGE>
                     FFCA INVESTOR SERVICES CORPORATION 88-B

                       BALANCE SHEET - SEPTEMBER 30, 2000

                                     ASSETS


Cash                                                                       $100
Investment in Scottsdale Land Trust Limited Partnership, at cost            100
                                                                           ----

       Total Assets                                                        $200
                                                                           ====

                                    LIABILITY
Payable to Parent                                                          $100
                                                                           ----

                              STOCKHOLDER'S EQUITY

Common Stock; $l par value; 100 shares authorized,
  issued and outstanding                                                    100
                                                                           ----

       Liability and Stockholder's Equity                                  $200
                                                                           ====

     Note:  FFCA  Investor  Services  Corporation  88-B (88-B) was  organized on
August 11, 1987 to act as the assignor  limited partner in Scottsdale Land Trust
Limited  Partnership  (SLT). The assignor limited partner is the owner of record
of the limited partnership units of SLT. All rights and powers of 88-B have been
assigned to the holders,  who are the registered  and  beneficial  owners of the
units.  Other  than to  serve as  assignor  limited  partner,  88-B has no other
business purpose and will not engage in any other activity or incur any debt.

                                       7
<PAGE>
                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant has caused this report to be signed on its behalf by the  undersigned
thereunto duly authorized.

                                      SCOTTSDALE LAND TRUST LIMITED PARTNERSHIP

                                      By FFCA MANAGEMENT COMPANY LIMITED
                                         PARTNERSHIP
                                         General Partner


                                      By PERIMETER CENTER MANAGEMENT COMPANY
                                         Corporate General Partner


Date: November 6, 2000                By /s/ John Barravecchia
                                         ---------------------------------------
                                         John Barravecchia, Executive Vice
                                         President, Treasurer and Chief
                                         Financial Officer

                                       8
<PAGE>
                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
co-registrant  has  caused  this  report  to be  signed  on  its  behalf  by the
undersigned thereunto duly authorized.

                                         FFCA INVESTOR SERVICES CORPORATION 88-B



Date: November 6, 2000                   By /s/ John Barravecchia
                                            ------------------------------------
                                            John Barravecchia, President,
                                            Secretary and Treasurer, Chief
                                            Financial Officer

                                       9