Growing Arizona College trains medical professionals
“The buyer recognized the strength of the tenant, quality of the property, and connectivity of the location, along with the below market rent,” says Mindy Korth, executive vice president with Colliers in Arizona. “LRP specializes in education real estate, and vocational schools such as this are an important part of their portfolio and mission.”
Korth, Todd Noel and Kyle Campbell with Colliers in Arizona handled the sale transaction. The private real estate investment fund, Learning Realty Partners of Carson City, NV purchased the property from Mesa-based DES 1, LLC.
LRP Operating Partner Rob Dolan said, “Todd and Mindy did an outstanding job negotiating and managing this transaction. Arizona College of Nursing will be a great addition to our portfolio and more importantly helps us achieve our goal of profits with purpose.”
Arizona College’s Mesa campus is located at 163 N. Dobson Road. Built in 2002, the 24,000-square-foot facility is situated on 2.33 acres. Arizona College provides training for the healthcare sector and occupied this property since 2012. The educational organization was founded in 1991. Career programs offered by Arizona College include nursing, allied health services, and medical billing and coding. This particular campus experienced a large gain in enrollment and able to accommodate additional growth, as demand for medical-related workers continues to increase.
The campus is located on Dobson Road, just north of Main Street in Mesa. The property is situated adjacent to a Valley Metro Transit Center that includes a Valley Metro Light Rail station, a large Park & Ride, and a hub that connects numerous Valley Metro Bus routes throughout Greater Phoenix.
About Learning Realty Partners
Learning Realty Partners, LP (LRP) focuses on the acquisition of learning and education properties dedicated to early childhood education, K-12 schools, vocational schools, and activity-based learning infrastructure such as swim schools. We believe education is a fundamental human right. By making good investments, adding value like solar energy, clean air, clean water, and building deep partnerships with operators, we can become a unique and highly differentiated source of infrastructure capital for the learning world. Learn more at www.learningreit.com.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues to $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
Colliers in Arizona has served clients locally and globally for more than 40 years.