CBRE completed the sale of a 21,660-square foot single tenant net leased building located at 2160 S. Power Road, in the Superstation Springs Shopping Center, in Mesa. The property, occupied by Pima Medical Institute, commanded a sale price of $6.16 million.
Nancy McClure of CBRE Tucson and Tom Adelson and Eric McClure of Newmark Knight Frank in Phoenix represented the seller, Bright Legacy Management, LLC of Tucson, Arizona. The buyer, Broadstone PMI Portfolio, LLC was self-represented. The sale was part of a $19.2 million portfolio sale that included a property, also occupied by Pima Medical Institute, in Albuquerque, New Mexico.
“The buyer was attracted to the investment portfolio due to the long-term leases with a quality tenant,” said CBRE’s McClure.
Vocational Training Institutes, Inc (DBA Pima Medical Institute) is headquartered in Tucson, Arizona with 15 campuses in eight states. In business for 45 years, Pima Medical Institute is a leading provider of proprietary post-secondary allied health education.