This post originally appeared on Orphan Road.
Buyers also say they like being in the Central Corridor because it provides convenient access to much of the Valley, particularly now that the city is investing in light-rail.”The folks that are living in cities that have light rail . . . have seen what that has done in their cities and they totally (in) believe it,” said Christopher Toci, executive director of capital markets group with Cushman & Wakefield of Arizona Inc.
Mass transit is in part what drove real estate investment firm Crown West Realty LLC to buy Phoenix Corporate Tower at 3003 N. Central Ave. for $69 million last month.
Vice President Bob Olshan said his company plans to put retail space on the first floor because he thinks it would be well supported by the new light rail system.
“We think retail on this side of the street will draw from neighboring buildings as well as this building as light rail comes in and it makes it harder to cross Central,” said Olshan, whose building is across the street form the Park Central office and retail center.