PHOENIX—In the most recent Deal-Tracker, CBRE has completed the sale of the Motorcycle Mechanics Institute Building located at 2932 W. Deer Valley Rd. in Phoenix. The 41,739-square-foot technical training facility commanded a sale price of $5.97 million.

Barry Gabel and Chris Marchildon with CBRE's Phoenix office represented the seller, 2932 DVR, LLC. The buyer, Hyperion Fund, LP, was represented by Eric Wichterman and Mike Coover with Cassidy Turley.

The MMI Building is 100 percent leased to UTI on a long term lease. It is one of three buildings that comprise the MMI campus. The building is located on Deer Valley Road, the main street serving the market, and half mile west of the Interstate 17. The property also benefits from its adjacency to numerous retail services, residential neighborhoods including multi-family developments and other strong corporate users.