September 15, 2017 Comments Off on Barker Pacific Picks Up Mesa Asset for $23M Views: 670 Arizona, National News, Southwest

Barker Pacific Picks Up Mesa Asset for $23M

Los Angeles-based Barker Pacific Group acquired Mesa Financial Plaza in Mesa, AZ for $23 million. The seller, Mesa Financial Plaza LLC, is an entity of Scottsdale-based Emrine LLC and PV Management LLC. The deal was brokered by Roseville, CA-based Palmer Capital Inc. and Cushman & Wakefield’s Matt Nebeker.

A landmark office tower, Mesa Financial Plaza is a 16-story, Class A office building located in the heart of Mesa’s Fiesta District. The neon-trimmed, 311,132-square-foot office, located at the southeast corner of Southern Avenue and Alma School Road, is currently 66% occupied.

Nebeker says, “Barker Pacific Group is the perfect partner for this building. They have been actively buying value add properties and will be able to accommodate all the new activity in the area. The new finishes combined with the cooperation of the city will stabilize the submarket.”

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