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L.A. Investors Head to Phoenix for Yield

Office investors are finding better yields more opportunities in the Phoenix market, which is finally hitting its stride this cycle.

By Kelsi Maree Borland | kelsimareeborland | Updated on September 28, 2017

Michael Barker Michael Barker

Los Angeles office investors are heading to Phoenix for better yields and more opportunities. Barker Pacific Group recently purchased the Mesa Financial Plaza in Mesa, Arizona, and it is planning more acquisitions in the market, according to Michael Barker, the CEO and managing director of the investment firm. While the firm wouldn’t disclose the exact sales price, Barker did say that it was able to secure the property below the asking price. This is not the firm’s first acquisition in the market, but it is the first since the early 2000s. We sat down with Barker for an exclusive interview to ask why the market is attracting the firm today, how it’s changed and how it stakes up to Los Angeles.

GlobeSt.com: Why are you attracted to the Phoenix market today?

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