Business Real Estate Weekly by Rose Law Group
Mesa – A company formed by Buchanan Street Partners in Newport Beach, Calif. (Robert Brunswick, Tim Ballard, principals) paid $32.5 million ($180.49 per foot) to buy a 180,067-square-foot office project located at the northwest corner of Stapley Drive and Baseline Road in Mesa. The seller was DAZ3-Stapley LLC, a company formed by The DESCO Group Inc. in St. Louis, Mo. (Mark Schnuck, pres.). The sale was brokered through Chris Toci and Chad Littell of Cushman & Wakefield of Arizona Inc. in Phoenix. The two-building Mesa office complex, called Stapley Corporate Center I & II, was 93 percent occupied at closing. The leasing is being handled by Phoenix-based Jones Lang LaSalle agents Mark Gustin, Dave Seeger and Karsten Peterson, who also participated in the sale. The two-story structures, which were built in 2007 and 2008, include a 90,566-square-foot building located at 1840 S. Stapley and a 89,501-square-foot office at 1910 S. Stapley. Continued
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