TUCSON, Ariz.– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Tenet Health, a 10,000-square-foot double-net-leased property located in Tucson, Arizona. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix and Tucson offices, the asset sold for $5.1 million ($510 PSF).
Mark Ruble, Jamie Medress and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
Tenet Health is located adjacent to the Interstate-19 freeway just south of Irvington Road in Tucson, Arizona. Ideally located just 15 minutes from Tucson International Airport and The University of Arizona, Tenet Health is also within the Tucson Spectrum, a major shopping center in the area. The property was built in 2019 on 1.32 acres of land and has 9.9 years remaining on its 10-year lease term with annual rent increases.