PISA, 4881 E. Grant Road, Tucson
TUCSON, ARIZONA (May 1, 2025) – Seattle-based Elliott Bay Medical Properties Holdings III, LLC has acquired a 15,000-square-foot medical office building at 4881 E. Grant Road in Tucson for $5,500,000 ($372.35 PSF). The seller was a Tucson-based private investment group.
“This is a highly desirable medical office asset that is 100% leased to a quality tenant and well positioned within a thriving healthcare community,” said Christian Whipple, CEO of Elliott Bay. “Its location adjacent to Tucson’s largest hospital, recent facility upgrades, and strong regional demand for specialty outpatient care align well with our investment strategy focused on essential healthcare real estate.”
The property is fully leased long-term to the Pain Institute of Southern Arizona (PISA), a prominent provider of interventional pain management services throughout Southern Arizona. Established over two decades ago, PISA offers advanced treatment options through a team of board-certified physicians with training from institutions such as the Mayo Clinic, Stanford, and Harvard. The practice operates multiple regional clinics, including Tucson, Benson, Queen Creek/San Tan Valley, and Apache Junction.
The property sold at an attractive cap rate, reflecting strong investor confidence in the tenant and location.
Bryce Horner, Capital Markets Specialist with Cushman & Wakefield | PICOR, represented the seller, AEH Investors, an affiliate of Hazen Enterprises of Tucson, the developer of the building in the transaction.
The transaction was finalized on April 11, 2025.
Strategically positioned along a key medical corridor, the property offers strong visibility and easy access, further enhancing its value as a stable, long-term healthcare investment.
For more information, contact Horner at 520.546.2737.
Reference: RED Comp #11850.