Downtown Mesa office purchase part of Caliber’s opportunity zone plans

Caliber Cos. bought a downtown Mesa office building from Wells Fargo Bank. / Provided by Cushman & Wakefield

By Corina Vanek | Phoenix Business Journal

The $4 million purchase of a Wells Fargo & Co. banking office in downtown Mesa was the latest addition to Caliber-The Wealth Development Co.’s portfolio that already includes about 20% of the buildings on Main Street.

The properties, including the Wells Fargo office, are part of the Caliber Tax-advantaged Opportunity Zone Fund, which will fund renovating the existing buildings into restaurant, retail and office space. Caliber owns nine properties in downtown Mesa, including seven historic buildings the company bought in 2017.

“We’ve long believed in the incredible potential of the city of Mesa and have been actively investing there for several years,” said Chris Loeffler, CEO and co-founder of Caliber, in a statement. “The opportunity zone designation and incoming [Arizona State University] campus is helping to open up even more possibilities for redevelopment. Our focus has been on finding the right tenants that will elevate Main Street as we strive to create great spaces to live, work and play and bring back a vibrance to historic downtown Mesa.”

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