Search
 

AmeriVest Buys Mesa Office Building

DENVER-This locally based office REIT buys Financial Plaza for $39 million. The 16-story building is currently 80% leased and was obtained at substantially below replacement cost.

By John Rebchook | Updated on September 12, 2003

DENVER-AmeriVest Properties, a Denver REIT that exclusively owns buildings that cater only to small and medium-sized office tenants, paid $39 million for the 310,837-sf Financial Plaza building in Mesa, AZ. The building is currently 80% leased. The Class A office building is located at South Alma School Road and Southern Boulevard, just north of the Superstition Freeway.

The 16-story building with structured parking was built in 1987, and offers views of the entire Phoenix skyline and includes such on-site amenities a Bank of America branch and a freestanding restaurant.

Financial Plaza is currently leased to 43 tenants, with an average tenant size of 5,800 sf, which includes one tenant occupying 50,393 sf. Excluding this tenant, an insurance company occupying the three top floors, the average tenant size falls to 4,700 sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.