CBRE Arranges $39.5M Sale of The Mesa Tower in Arizona to CAMCO Investment Group
MESA, ARIZ. — CBRE has arranged the sale of The Mesa Tower, a 16-story office building located at 1201 S. Alma School Road in Mesa. Dallas-based CAMCO Investment Group acquired the asset from Barker Pacific Group and Iron Point Partners for $39.5 million.
Barry Gabel, Chris Marchildon and Will Mast of CBRE represented the seller in the deal.
Totaling 311,949 square feet, The Mesa Tower comprises the high-rise, Class A office building; an adjacent single-tenant restaurant; and a five-level, above-grade parking structure. The property was originally built in 1986 and most recently renovated in 2018 and 2019. Renovations include enhancements to the lobby, common areas, restrooms and interior building systems, as well as the addition of several speculative suites.
At the time of sale, the property was 85 percent leased to a diverse tenant mix.