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September 18, 2018
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Artis REIT Buys 277k sf Stapley Center

8/24/18

Artis REIT, a Canada-based real estate investment trust, purchased Stapley Center, a three-building, 277.3k sf Class A office campus located in the heart of Mesa, AZ. The asset was sold by Invesco Real Estate, a global real estate investment manager.

Located at 1620, 1630 and 1640 S. Stapley Dr in Mesa, Stapley Center features three Class A, Energy Star-certified office buildings with thoughtfully designed interiors, a full security card access system and on-site management offices. The property provides immediate access to the US 60 Superstition Freeway and is within walking distance to 20 restaurants, several banks and the neighboring Mesa Grand power center. Tenants at Stapley Center include ADESA, Cirrus Logic and Wallick & Volk.

Dennis Desmond, Lynn LaChapelle, Peter Bauman and Tivon Moffitt with JLL represented Invesco Real Estate in the transaction. JLL’s Dave Seeger serves as Stapley Center’s exclusive leasing broker. According to JLL, Stapley Center has averaged 905 annual occupancy since its delivery to market in 2002 – a rate of performance notably exceeding general market results.

“Artis recognized the value of Invesco Real Estate’s meticulous maintenance at Stapley Center,” said Desmond. “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’s exceptionally strong lease performance.”





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