PHOENIX, January 15, 2020 – Cushman & Wakefield announced that TB 4100 N. Central Ave., LLC (an entity formed by Toll Brothers) purchased the 8.2-acre multifamily development site at the northwest corner of Central Avenue and Indian School Road in Phoenix for $17.9 million, $50 per square foot, $44,527 per unit..

David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller, Phoenix-based Bayless Investment & Trading Company, in the transaction.

“It’s great to see this long vacant, iconic corner go into production with a quality developer like Toll Bros. This project will be an excellent addition to the continued transformation of Midtown Phoenix,” said Nicoluzakis.

The site consists of four parcels with a combined total of 356,905 square feet of developable land. The rare, hard-corner site is a transit oriented as it is located along the Valley Metro Light Rail with a station adjacent to the property and bound by three streets.

Toll Bros. plans on developing a 402-unit, four-story luxury multifamily project on the site.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
2020-01-15T16:16:15-07:00January 15th, 2020|