CoreNet Global’s Annual Phoenix Market Overview Meeting and What’s Next?

An in-depth overview of the Metro Phoenix real estate market including the evaluation of demographic drivers, supply and demand, and trends is to be presented by Chris Toci of Cushman & Wakefield of Arizona on May 22nd.

The presentation by Toci, Executive Director for Capital Markets at Cushman & Wakefield, also will answer the question: what’s next?

The event is scheduled for Thursday, May 22, at Phoenix Country Club. Registration begins at 11:30 a.m. followed by Toci’s presentation from noon to 1 p.m. Price is $35 for CoreNet Global members and $70 for non-members and includes the program, lunch, and networking.

Since beginning his investment broker career in 1998, Toci has been a consistent top performer, earning accolades from both the local and national Cushman & Wakefield offices. In 2013 he closed on 10 investment sales totaling 1.805 million square feet for $278.8 million in consideration. He was Cushman & Wakefield of Arizona’s Top Producer of 2013.

To register, go to arizona.corenetglobal.org and click on the Arizona Chapter Events link.

MESA, AZ – Cushman & Wakefield of Arizona, Inc. has negotiated the $13.2 million ($124 PSF) sale of Mesa Corporate Center,  located at 1001 W. Southern Ave.

The 106,077-square-foot office building was constructed in 2000 and was 89 percent occupied at the time of the sale.  Tenants include Allstate Insurance Company, DeVry University and Allied Barton Security.

Parkway Properties of Orlando, Fla. sold the property to Buchanan Street Partners of Newport Beach, Calif.

“Mesa Corporate Center has proven to be one of the leading office developments in the Southeast Valley since its completion,” said Chris Toci. “It is representative of a growing demand for freeway-located office space with above-standard parking ratios and immediate access to a deep amenity base.

“Office and vacancy rates along the Southeast Valley freeway system are rapidly tightening to the single digits, which is indicative of near-term rent growth and increased build-to-suit activity,” Toci said.

Toci, Chad Littell, Jerry Noble and Ryan Bartos of Cushman & Wakefield represented the seller in the transaction.