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Mesa's Building of the Year Sells For $34.4M

MESA, AZ-PM Realty Advisors puts up the winning offer for the 272,708-sf Stapley Center. It's the third building in Arizona that the Newport Beach, CA owner has acquired from Denali National Trust.

By Beverly Ford | Updated on October 20, 2002

MESA, AZ-The Stapley Center, a 272,708-sf office campus that was named the 2001 Building of the Year, has been acquired for about $34.4 million in cash by Newport Beach, CA-based PMRealty Advisors.

The recently completed three-building office complex, located at the junction of Interstate 60 and Stapley Drive, won the category for buildings over 200,000 sf in the annual competition by the Arizona Chapter of the National Association of Industrial and Office Properties.

Dennis Desmond, senior managing director for Insignia/ESG in Phoenix, tells GlobeSt.com that it is the third complex PMRealty Advisors has purchased from Scottsdale developer Denali National Trust Inc., whose “Instasuite” concept of self-contained office space has won a huge following among tenants.

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