Wednesday, September 23, 2020 3:43 pm

Sale of medical space shows resiliency

By Mike Sunnucks | Rose Law Group Reporter

Medical offices and real estate continue to show resiliency even as other segments and the economy navigate COVID-19. Development plans and real estate deals have continued in medical space this summer.

The latest is a $11.55 million sale of a 40,939-square-foot medical building in Tucson.

The property at 535 North Wilmot Road is fully leased by Banner Health Inc. which recently renewed its lease.

An affiliate of The Schomac Group sold the medical building to an arm of MBRE Health Care.

Justin Lanne and Andrew Sternberg with NAI Horizon’s Tucson office represented the seller in the deal.

“I sold the empty building to an affiliate of the seller in December of 2002,” Lanne said. “The asset was held by a lending institution at that time. The previous tenant was Cigna Health Care.”

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