Terry Scott Manager (TSA) purchased Dover Shores in Mesa, an 11-building, 94,242 SF office project. The sale price was $5.85M.

Curtis Brown and Bob Crum of Ross Brown Partners represented the seller. The buyer was represented by Bob Pearlstein and Brent Pearlstein of Orion Investment Real Estate.

The project was sold by an LLC formed and managed by MainSpring Capital Group (Mills Brown and Marty Farnsworth, Managing Members) who owned and operated the property for 16 years.

TSA, a Canadian based company, has plans to recapitalize and update the project with new signage and landscaping. Leasing has increased with the improving market and TSA is excited about the investment opportunity.

“Dover Shores has been a great investment, and worked well for a long time,” says Mills Brown, Managing Member at MainSpring Capital Group. “TSA was an opportunistic buyer with great plans for the project’s future, aligned with plans we had, if we were to continue owning the property. With the sale, we are able to focus on other areas of our portfolio.”

MainSpring Capital Group is a Phoenix-based real estate development and investment company. Mainspring has developed numerous projects in the Phoenix area including office, industrial, mixed-use business parks and residential golf course communities.

MainSpring currently owns and operates 1.5 MSF of office and industrial property, the Las Colinas Golf Course in Queen Creek, and more than 900 acres of development land, including 100 acres remaining within the mixed use Pima Center in Scottsdale.