Newmark Group Facilitates Sale of Phoenix Office Campus for Transformation into Formation Park 17 Industrial Hub

Reuters

2025/06/06

Newmark Group Facilitates Sale of Phoenix Office Campus for Transformation into Formation Park 17 Industrial Hub

Newmark Group Inc. has successfully arranged the sale of the Corporate Center, a 338,048-square-foot office campus located on 22.6 acres at 10010-10220 North 25th Avenue, Phoenix, Arizona. The Dallas-based developer Formation Interests acquired the site with plans to transform it into Formation Park 17, a 425,000 square-foot, Class A mid-bay industrial park. This redevelopment project will involve demolishing the existing office buildings to create a transit-oriented industrial business park in a Qualified Opportunity Zone. The strategic location, adjacent to the Metrocenter East Light Rail station and the planned $1 billion redevelopment of the nearby Metrocenter Mall, positions Formation Park 17 as a significant urban infill project in Central Phoenix. Newmark Executive Managing Directors CJ Osbrink, Barry Gabel, Chris Marchildon, and Managing Director Gary Cornish represented the seller in this transaction.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Newmark Group Inc. published the original content used to generate this news brief on June 05, 2025, and is solely responsible for the information contained therein.

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While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 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