Wilson Property's $7M Buys 80,067-SF Office

MESA, AZ-An Arizona buyer has ended up with the 80,067-sf Mesa Executive Park, paying $7.25 million for the deed. KBS Realty Advisors has sold the four-building, class B office complex to Wilson Property Services Inc.

“Mike Wilson has a very good reputation in the Phoenix marketplace and the seller felt this buyer could close on the property at the right price,” Steven M. Brabant, senior vice president with CB Richard Ellis’ Phoenix office, says about the Scottsdale investor. Brabant, who represented the seller, adds the property at 1255 W. Baseline Rd. attracted a lot of interest because of its upside potential.

Built in 1982, the complex is 61% occupied. “Based on the property review report, beyond the normal wear and tear on the property, Wilson probably won’t put significant money into the asset,” Brabant tells GlobeSt.com. “KBS maintained the property very well.” There also isn’t a significant lease roll in the coming year, he adds.