California Investor Purchases 106,209 SF Class A Office
PHOENIX, Arizona – Cushman & Wakefield announced that Newport Beach-based Buchanan Street Partners, a real estate investment management firm, sold Mesa Corporate Center. Buster's Bounce Texas, LLC of Escondido, Calif. purchased the property located at 1001 W. Southern Avenue in Mesa, Ariz. for $15.625 million ($147 per square foot).
Eric Wichterman, Mike Coover, Jerry Noble and Greg Mayer of Cushman & Wakefield Phoenix represented both the buyer and seller in the transaction.
Mesa Corporate Center is a Class A, two-story, multi-tenant office property totaling 106,209 square feet. Constructed in 2000, the property features a two-story lobby, large and efficient floor plates, as well as building and monument signage. Situated on 8.3 acres, Mesa Corporate Center enjoys extensive visibility along Southern Avenue—a major east/west arterial and offers immediate access to the trade area which is packed with amenities, including over a dozen restaurants within walkable distance.
The property is currently 94.5 percent occupied by desirable collection of national and local corporations including Allstate Insurance, Adtalem Global Education, Allied Universal Security, Teledoc, and Kimley-Horn.
“The clean nature of this building from a physical, locational and tenancy standpoint made it a very attractive opportunity and I was not surprised that it closed in a smooth transaction,” said Wichterman.