SCOTTSDALE, Ariz. (December 20, 2019) – Caliber-The Wealth Development Company has closed on a 50,000 square-foot building in Mesa, Arizona. Located at 305 E. Main St., this is the latest property in the company’s downtown Mesa portfolio that includes nearly 20 percent of buildings on Main Street and encompasses more than 160,000 square feet. Located in a designated opportunity zone, the properties are part of the Caliber Tax Advantaged Opportunity Zone Fund, LP.
“We’ve long believed in the incredible potential of the City of Mesa and have been activity investing there for several years. The opportunity zone designation and incoming ASU Campus is helping to open up even more possibilities for redevelopment,” said Chris Loeffler, CEO and Co-Founder of Caliber-The Wealth Development Company. “Our focus has been on finding the right tenants that will elevate Main Street as we strive to create great spaces to live, work and play and bring back a vibrance to historic downtown Mesa.”
In 2017, Caliber acquired eight historical buildings – and has since purchased two more properties – in Mesa’s downtown core and has been working closely with local officials to align its plans with the city’s overall vision for redevelopment. The properties are being renovated into modern but historically charming restaurant, retail and office space that will create an inviting urban environment. Mesa has been a growing hub for business, innovation and culture and will be home to Arizona State University’s newest campus and innovation center. The ASU campus is slated to open in fall of 2021.
The 305 E. Main St. building was originally constructed for a bank, and Wells Fargo will continue to operate on the ground floor. Common area renovations are already underway, and Caliber’s planned $3 million of improvements are being offered as part of the releasing program for the prime office space.
An industry-leading expert in opportunity zones, Caliber’s Qualified Opportunity Zone Fund (QOF) has raised more than $44.5 million since its launch in Q4 2018. The fund is open to short- and long-term capital gain investments, will provide significant tax savings to investors and is expected to reach its $500 million goal within two years. For more details on Caliber’s QOF or other investment opportunities, visit CaliberCo.com.
Headquartered in Scottsdale, Arizona with an investment focus in the Greater Southwest growth markets, Caliber leads the market in providing individual accredited investors and registered investment advisors with well-structured alternatives to traditional investments. The Company offers an approachable, full-service investment experience with more than 1,500 team members working to care for over $750 million (assets under management & development) in commercial, residential, and hospitality real estate in AZ, CO, TX, NV, UT and AK. Caliber offers both asset management and real estate services to create a vertically integrated investment platform focused on middle-market investment transactions. The Company is currently offering four distinct private real estate funds, two focused on income and two focused on growth, with the most notable being a $500m equity offering in the Southwest as a qualified opportunity zone investment fund.
Learn more at Caliberco.com or follow Caliber on social @CaliberCo.
Note To Investors
This Press Release Is Provided Solely For Information Purposes And Does Not Constitute Legal Or Investment Advice. This Is Neither An Offer To Sell Nor A Solicitation Of An Offer To Buy Securities. While We Endeavor To Keep The Information Up To Date And Correct, We Make No Representations Or Warranties Of Any Kind, Express Or Implied, About The Completeness, Accuracy Or Reliability Of The Data And Summaries Contained In This Press Release Or The Suitability Of Any Separate Offering For Investors. There Are Risks Associated With Any Investment. In Making An Investment Decision, Investors Must Rely On Their Own Examination Of The Company They Wish To Invest In Including The Merits And Risk Involved. Any Forward Looking Statement Speaks Only As Of The Date On Which Such Statement Is Made, And We Undertake No Obligation To Update Any Forward Looking Statement To Reflect Events Or Circumstances After The Date On Which Such Statement Is Made. Please Contact Caliber Directly At 480-295-7600 For Further Information.