{"id":1004260106,"date":"2018-08-27T08:44:17","date_gmt":"2018-08-27T16:44:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004260106"},"modified":"2022-12-07T06:18:57","modified_gmt":"2022-12-07T14:18:57","slug":"artis-reit-acquires-az-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/artis-reit-acquires-az-office-campus\/","title":{"rendered":"Artis REIT Acquires AZ Office Campus"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004260121\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Stapley-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004260121\" data-attachment-id=\"1004260121\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/artis-reit-acquires-az-office-campus\/stapley-center-exteror\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Stapley-Center.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D810&quot;,&quot;caption&quot;:&quot;Stapley Center exteror&quot;,&quot;created_timestamp&quot;:&quot;1521970238&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;17&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.01&quot;,&quot;title&quot;:&quot;Stapley Center exteror&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Stapley Center exteror\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Stapley Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Stapley-Center.jpg?w=800\" class=\"wp-image-1004260121 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Stapley-Center.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Stapley-Center.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Stapley-Center.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Stapley-Center.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004260121\" class=\"wp-caption-text\">Stapley Center<\/p><\/div>\n<p>Artis REIT has acquired Stapley Center, a Class A office campus in Mesa, Ariz., from Invesco Real Estate. The firm purchased the campus back in October 2002 from Denali National Trust for $34.4 million, according to Yardi Matrix.&nbsp;<\/p>\n<p>Located at 1620, 1630 and 1640 S. Stapley Drive, the property comprises three, two-story buildings totaling 277,264 square feet. The Energy Star certified buildings offer uniquely designed interiors, a full security card access system and on-site management offices. The campus is within close proximity to the US 60 Superstition Freeway and is within walking distance to a variety of restaurants, banks and the Mesa Grand power center. Tenants of Stapley Center include ADESA, Cirrus Logic, Wallick &amp; Volk, Liberty Mutual Insurance, Berkshire Hathaway and West USA Realty. The asset has had a 90 percent annual occupancy since constructed in 2002, according to JLL.&nbsp;<\/p>\n<p>JLL Senior Managing Director&nbsp;Dennis Desmond, Managing Director&nbsp;Lynn LaChapelle&nbsp;and Senior Vice Presidents&nbsp;Peter Bauman&nbsp;and&nbsp;Tivon Moffitt&nbsp;represented the seller in the transaction. JLL Managing Director&nbsp;Dave Seeger serves as Stapley Center&#8217;s exclusive leasing broker.<\/p>\n<p><em>&#8220;Artis recognized the value of Invesco Real Estate&#8217;s meticulous maintenance at Stapley Center,&#8221;<\/em> said Desmond, in a prepared statement. <em>&#8220;That effort earned the project a 2017 TOBY Building-of-the-Year award for low-rise office buildings in metro Phoenix and has fostered Stapley Center&#8217;s exceptionally strong lease performance. Artis is confident that the office campus will continue to outperform the market in the years to come.&#8221;<\/em><\/p>\n<p>In February, Artis REIT\u2014along with its partner Trammell Crow Co.\u2014<a href=\"https:\/\/www.commercialsearch.com\/news\/footprint-relocates-production-to-gilbert-az\/\">inked a 131,796-square-foot industrial lease<\/a> with Footprint,&nbsp;a molded fiber company, to relocate its production operations and headquarters within Park Lucero Phase II in Chandler, Ariz.<\/p>\n<p><em>Image courtesy of JLL&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL represented the seller, Invesco Real Estate, in its disposition of Stapley Center, a three-building Class A property in Mesa. <\/p>\n","protected":false},"author":746,"featured_media":1004260121,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,1601,15],"tags":[38488,33882,32796],"class_list":["post-1004260106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-phoenix","category-west","tag-artis-reit","tag-invesco-real-estate","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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