Barker Pacific Group (BPG) has acquired Mesa Financial Plaza, the premier Class-A office asset in Mesa, AZ. Totaling 311,132 square feet, Mesa Financial Plaza is an instantly recognizable and iconic landmark in the East Valley section of the Phoenix metropolitan area.
Located at 1201 Alma Road, the 16-story building is conveniently located, with Mesa Community College and numerous hotels and eateries all nearby.
“Mesa Financial Plaza is an attractive property, and we have plans to bring it further up-to-date with extensive renovations.” says Michael Barker, Managing Director and CEO of BPG. “It is an important landmark for the area, and our team looks forward to improving it for both current and future tenants.”
With the help of Palmer Capital, the BPG team secured debt financing from NXT Capital, a Chicago-based lender. Heading the leasing for the building is Matt Nebeker of Cushman & Wakefield.
BPG is implementing plans to increase the building’s occupancy and upgrade common areas, which include major renovations to the lobby and corridors. Additionally, updated monument signage and lighting will be added to further enhance the building’s prominence on the skyline.
The acquisition of Mesa Financial Plaza is BPG’s first dive into the Mesa market, which has been improving after the economic downturn several years ago.
“It’s exciting to go into a developing market that has been showing signs of improvement,” says Barker. “Mesa Financial Plaza is an icon of the area, and we’re excited at the opportunity we have to add value to the project and the Mesa market as a whole.”