Search
 

Healthcare Provider Packages $4M Sale-Leaseback

PHOENIX-ReachOut Healthcare America collects $4.2 million for a 23,000-sf, class A, office build-to-suit. To close the deal, the provider signs an 8,300-sf, seven-year lease with buyer, Gill Group Inc., which plans to put one of its divisions on the first floor.

By Jennifer D. Duell | Updated on March 31, 2005

PHOENIX-A locally based healthcare provider has hawked a 23,000-sf, class A office building in a $4.2-million sale-leaseback. The plan keeps the seller in 8,300 sf on the second level for seven years and opens up the first floor for a corporate headquarters for one of the buyer’s subsidiaries.

The Gill Group Inc. will put Gill Marketing Co.’s headquarters into 11,000 sf of Deer Valley Corporate Plaza, a recently delivered, two-story build-to-suit at 1904 W. Parkside Lane. ReachOut Healthcare America backed up the sale with a seven-year lease for its office, says Bruce Calfee, a senior vice president with Grubb & Ellis BRE Commercial LLC. He, Marc Hertzberg and Josh Wyss represented the seller while Jim Watkins with Phoenix-based Lee & Associates Arizona brokered the buy side.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.