Toll Brothers’ 8-Acre Buy Paves Way for 402-Unit Development

TB 4100 N. Central Ave LLC, an entity formed by Toll Brothers, acquired 8.2 acres at Central Avenue and Indian Road in Phoenix. The new owner paid $17.9 million for the land, with plans to develop a 402-unit, four-story multifamily project on the site.

David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller, Phoenix-based Bayless Investment & Trading Co. The site consists of four parcels, totaling 356,905 square feet of developable land. The hard-corner property is transit-oriented, situated along the Valley Metro Light Rail, with an adjacent station.

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

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