Mesa building gets big tenant - East Valley Tribune: Business

Mesa building gets big tenant

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Posted: Tuesday, December 21, 2004 5:28 am | Updated: 5:36 pm, Thu Oct 6, 2011.

Minneapolis-based U.S. Bancorp, the sixth largest financial services company in the United States, has become the first announced tenant to locate in the One Macdonald Center building being redeveloped in downtown Mesa.

The company will open a U.S. Bank branch on the ground floor of the fivestory building in the heart of downtown Mesa at the corner of Main Street and Macdonald, said Marc Pierce, a partner with Lee and Associates, the leasing agent for the building.

The former Valley National Bank and Bank One building is undergoing a thorough $5.5 million interior and exterior remodeling by One Macdonald LLC, a group headed by Mesa office developer Ralph Larsen.

The project is a key element in Mesa’s efforts to enhance the downtown.

The remodeling will give the building a more contemporary look over the 1960sera facade it had.

U.S. Bank, which has signed a 10-year lease, will occupy about half of the ground floor, or 5,000 square feet, Pierce said.

The financial firm operat es more than 2,340 branches in 24 states and has assets totalling $193 billion. It operates many branches in Albertsons and Safeway groceries in the East Valley.

A national software development company also has agreed to lease 10,000 square feet — the entire fifth floor — of One Macdonald Center while a sandwich shop will occupy 1,500 square feet on the ground floor, Pierce said.

The building partners also are negotiating with a law firm to take another 2,000 square feet inside the building. Pierce did not release the names of any of those tenants.

The deals either completed or nearing completion account for about 31 percent of the space available in the building, he said.

"That’s a major accomplishment for an underconstruction building," said Pierce, who was named Mesa’s Broker of the Year by the city economic development department.

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