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Phoenix & Southwest  + Arizona  + Healthcare  |  December 21, 2023
Tucson Banner MOB's involved in $19M sale/leaseback
Mike Boyd
By: Mike Boyd

Banner Health Undertakes 3 Tucson-Area Sale/Leaseback Deals

Banner Health – UMC sold three medical office facilities in sale-leasebacks to New York-based The VanBarton Group, a privately owned, vertically integrated real estate investment manager. With a 30-year track record investing in customized real estate strategies for large, sophisticated institutional investors, the Banner portfolio was acquired for $19.5 million.

The three properties in the portfolio included:

  • University of Arizona Cancer Center at 1881 -1891 West Orange Grove sold for $10 million ($343 per square foot)
  • Banner Multispecialty Clinic at 265 West Ina Road sold for $7.1 million ($324 per square foot)
  • Banner Multispecialty Clinic at 7901 E 22nd Street sold for $2.4 million ($290 per square foot)

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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