Tag Archives: Chris Toci

Jabil Circuit, CushWake, WEB

Former Jabil warehouse sells for $11.4M

Cushman & Wakefield of Arizona, Inc. negotiated the $11.4 million sale of a former electronics manufacturing/warehouse building at 615 S. River Dr.

The 193,000-square-foot property was built in 1982, expanded in 1994 and expanded again in 1997. It includes 176,000 square feet of fully air-conditioned manufacturing and warehouse space and 17,000 square feet of office space. It sits on 16.5 acres with direct frontage on the Loop 101 and close proximity to the Scottsdale and Chandler submarkets.

“EverWest Real Estate Partners and CarVal Investors will reposition the property as creative office space and will fill the void felt by the many tech-related users in the market seeking modern, collaborative office environments with above-standard parking,” said Chad Littell.

“We are excited about the opportunity this building will bring to the market. Upon completion of the renovations, the property will offer high-tech creative office space with a 7:1 parking ratio in a thriving and high-demand large user market,” said Curt Kremer, Managing Director  – Acquisitions with EverWest Real Estate Partners.

Littell, Chris Toci, Jackie Orcutt and John Grady of Cushman & Wakefield of Arizona collaborated with John Boyd of Signature Associates in Michigan, a Cushman & Wakefield affiliate, and Tim Callahan of Cushman & Wakefield Florida, to represent Jabil.  The buyers are EverWest Real Estate Partners and CarVal Investors.  Jerry Noble, Ryan Bartos and Orcutt of Cushman & Wakefield will be retained to handle the leasing.

St. Petersburg, Fla.-based Jabil announced it would close the facility last September. Jabil moved into the building in 2005 when it took over an electronics manufacturing business.

Chris Toci will present annual Phoenix market overview

Chris TociAn in-depth overview of the Metro Phoenix real estate market including the evaluation of demographic drivers, supply and demand, and trends will be presented by Chris Toci of Cushman & Wakefield of Arizona at the May event sponsored by the Arizona chapter of CoreNet Global.

The presentation by Toci, Executive Director for Capital Markets at Cushman & Wakefield, also will answer the question: What 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.

Agave Center

Cushman & Wakefield Sell Agave Center for $29.6M

Cushman & Wakefield of Arizona, Inc. has negotiated the $29,593,000 sale of the distinctive five-building office/flex development project known as Agave Center.

Agave Business Center (55,221 rentable square feet), located at 8945 S. Harl Ave., is 71 percent occupied and enjoys one of the largest remaining blocks of potential “creative” space along the I-10 corridor.

Agave Corporate Center, located at 1711 W. Greentree Dr., is a two-story professional office building containing 86,115 rentable square feet that is 98 percent occupied.  Agave Executive Center contains 78,405 RSF in three buildings, located at 17211, 1725 and 1729 W. Greentree Dr. The three buildings are 95 percent occupied.

Collectively, the five-building project was developed in 2000, accounts for 219,741 RSF, and is more than 90 percent occupied.

An entity owned by certain funds managed by Westport Capital Partners LLC, sold the project to Dornin Investment Group of Laguna Beach, Calif.

“Westport Capital Partners LLC did an exceptional job of executing its business plan several years ahead of schedule and Dornin Investment Group has been eyeing the Phoenix market for office acquisitions and was waiting for the right opportunity to enter the market,” said Chris Toci of Cushman & Wakefield.

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

Good Samaritan Hospital - AZ Business Magazine Mar/Apr 2011

Avnet Building Sells for $21.5M

Cushman & Wakefield of Arizona, Inc. has negotiated the $21.5M sale of the AVNET Building, a Class-A office property located at 8700 S. Price Rd.

The two-story building, which was constructed in 2000, totals 132,070 SF and was 100 percent occupied by AVNET, Inc. at the time of the sale. It is located in the 320-acre Arizona State University Research Park with direct frontage on the Loop 101 freeway. 

Atlanta-based Piedmont Office Realty Trust sold the property to AVASU (AZ) LLC of New York.

“W. P. Carey of New York, on behalf of one of its managed REITs, won the bid in a highly competitive process,” said Chris Toci. “W. P. Carey was drawn to the investment-grade nature of the tenant, AVNET, which will occupy the property under a long-term, net lease with annual scheduled rental increases.

“This asset within the ASU Research Park is the corporate headquarters for the AVNET Technology Solutions group, one of two operating groups of AVNET, Inc. The building is positioned within the ‘white hot’ technology corridor of the Southeast Valley.”

Toci, Chad Littell and Michael White of Cushman & Wakefield represented the seller in the transaction.

Jabil Circuit, CushWake

Cushman & Wakefield Awarded Sale of Former Jabil Circuit Flex Building

Cushman & Wakefield of Arizona, Inc. has been awarded the sale of a former electronics manufacturing/warehouse flex building at 615 E. River Dr.

The 193,000 SF property includes 176,000 SFof fully air-conditioned manufacturing and warehouse space and 17,000 SF of office space. It sits on 16.5 acres with direct frontage on the Loop 101 and close proximity to the Scottsdale and Chandler submarkets.

“We are excited to bring the Jabil facility to the market at a time when the technology industry is booming in the Southeast Valley,” said Jackie Orcutt. “We feel the asset is well positioned with exposure along the Loop 101 corridor, heavy parking and ample power for a wide variety of users.”

Orcutt, Chad Littell, John Grady and Chris Toci of Cushman & Wakefield are handling the sale of the property.

“The Jabil facility is entering the market at a critical time when large blocks of space are in limited supply,” said Littell. “A scarcity of existing options for large tenants further elevates the Jabil facility as one of the most attractive opportunities in the Southeast Valley.”

St. Petersburg, Fla.-based Jabil Circuit closed the facility last September. Jabil moved into the building in 2005 when it took over an electronics manufacturing business. The facility was built in 1982 and expanded in 1994 and 1997.

Graham, Chandra, WEB

Chandra Graham Joins Cushman & Wakefield’s Capital Markets Group

Chandra Graham has joined Chris Toci and Chad Littell in the Capital Markets Group at Cushman & Wakefield of Arizona, Inc.

Graham previously was a Director in the firm’s Valuation & Advisory Services Group.

“With her deep experience in the valuation world, Chandra brings a diverse, analytical background to the team that will be instrumental as our investment sale volume continues to increase and as we move through the Phoenix recovery cycle,” said Toci. “Chandra’s training as an MAI candidate will serve her well on ‘Team Toci’ as she brings experience in market analysis, cash flow preparation, valuation analysis and a host of other detail-oriented skills to bear on this team.”

Graham is a nationally-recognized commercial real estate appraiser with more than 15 years of experience in the Southwest and Mid-Atlantic regions, including Arizona, Nevada, Virginia, Maryland, West Virginia and Washington, D.C. She specializes in office, industrial and medical office properties.

Graham served as Director of Research and Marketing for Ensemble Real Estate. She served as a top producer at CBRE Valuation and Advisory Services from 1999-2008. She also has handled valuations for Colliers International and Newmark Grubb Knight Frank.