Cushman and Wakefield recently announced the firm has represented both buyer and seller in the sale of The Arc — formerly known as Stapley Corporate Center — at 1840 and 1910 S. Stapley Drive in Mesa.

The two-story, two-building, 180,110-square-foot office project has a tenant roster of physician-occupied (23%) and medical-related (40%) users, according to a release.

The property was acquired by the joint venture of Cypress Office Properties and Harbert Management Corp. for $37 million. The seller was Buchanan Street Partners.

Cushman and Wakefield’s capital markets team of Chris Toci and Chad Littell handled the transaction on behalf of both parties. The firm’s Sheila Bale, Tom Weinhold and Kristina Cutillo provided medical leasing advisory.

“Due to strict regulations for medical professionals about work from home, we are confident that The Arc is an ideal Class A office project for complete conversion to medical office,” Chris Toci, executive managing director, said in the release.

“Capitalizing on a trend of robust health care employment in Arizona, coupled with a COVID-induced desire among physician and patients to be located off hospital campuses, the Cypress/Harbert duo intends to reposition the project to complete medical office,” Mark Wayne of Cypress Office Properties said in the release.

“The Arc is an outstanding project that we believe is well-positioned for continued conversion to medical office — a subtle trend that presented itself in the waning years of our holding term,” Garrison Weaver, asset manager at Buchanan Street Partners, said in the release.

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