CBRE Completes $7.5 Million Sale of Banner Alzheimer’s Institute

Tucson, Arizona (Nov. 2, 2022) – CBRE has completed the $7.5 million sale of Banner Alzheimer’s Institute, a 15,084 square-foot, Class-A medical office in Tucson’s Catalina Foothills submarket to a private investor. David Montijo of CBRE represented the seller in this transaction.

Located at 2626 E. River Road on the corner of East River Road and North Hacienda del Sol Road, Banner Alzheimer’s Institute was built in 2020 to serve Banner Health’s broad network of Alzheimer’s patients in Southern Tucson. The building sits on 1.8 acres and has ample parking for doctors, patients and employees.

“The Banner Alzheimer’s Institute makes an excellent acquisition for an investor seeking an already cash flowing investment with hands-off steady and growing income for years to come,” said Montijo, First Vice President with CBRE.

The property is situated along the River Road corridor, just one mile east of River Road and Campbell Avenue, one of Tucson’s busiest focal points for retail, office and medical users, and the location of St. Philip’s Plaza, one of Tucson’s busiest retail hubs. The property is a few miles from downtown Tucson and The University of Arizona.

This Tucson location is one of three Banner specialty centers in Arizona devoted to the treatment of Alzheimer’s and memory care; the other two are in Phoenix and Sun City.