56,274 SF Pima Medical Institute Campus Sold in Mesa
June 24, 2021
Commercial Properties, Inc./CORFAC International (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of the Pima Medical Institute campus, a ±56,274 square foot, two-building property on a 4.29-acre site. Located at 941 & 957 S Dobson Road, the two buildings have frontage on Dobson Road, which feeds directly to the U.S.-60 and Loop 101 Freeways.
Tyson Breinholt, Partner/Associate Broker, and Leroy Breinholt, President/Designated Broker for Commercial Properties, Inc., represented the sellers, 941 S Dobson Road, LLC, and 957 S Dobson Rd, LLC in the sale of this prime medical campus investment offered at a 9.0% CAP rate.
“Pima Medical Institute was established 48 years ago and currently serves approximately 10,000 students through a network of 18 campuses providing students with Bachelors and Associate degrees as well as Certificates in numerous highly-specialized and in-demand medical careers. Pima Medical Institute is a great tenant and long-term client of mine who will continue to occupy the campus, and just renewed their lease for another 7-years, making this an attractive investment,” said Tyson Breinholt.
The buyer, Yalee Investments LLC, purchased the campus for $9,500,000 / $168.81 per square foot. Jeff Hays, Senior Vice President – Sales & Leasing with Commercial Properties, Inc., who represented the buyer stated, “My client considered this purchase a value-add opportunity with strong credit and a good return.”
For additional information, please contact Tyson Breinholt, Leroy Breinholt, and Jeff Hays at tbreinholt@cpiaz.com and 480.966.7513 or lbreinholt@cpiaz.com and 480.966.6593 or jhays@cpiaz.com and 480.889.2552.
About Commercial Properties Inc.
Established in 1981, Commercial Properties Inc. (CPI) is a full-service brokerage and property management firm for all product types of commercial real estate. Headquartered in Tempe, the company has more than 65 brokers and is operating throughout the Phoenix metropolitan area. Currently, CPI’s listings include over 21.6 million square feet for sale/lease with more than 207 projects and associations under management, totaling over 13.2 million square feet.
CPI is the Phoenix affiliate of CORFAC International, comprised of privately held brokerage and property management service providers in 55 U.S. markets, and 20 international markets.
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