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5/07/25
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A 15k sf, single-tenant medical office property in Tucson, AZ was acquired by Elliot Bay Medical Properties Holdings III LLC in a $5.5 mil ($367/sf) transaction. Located at 4881 Grant Rd, the two-story building is fully leased on a long-term basis to Pain Institute of Southern Arizona.
Originally constructed in 2008 and recently renovated in 2024, the property has since been well-maintained and upgraded to serve the needs of modern healthcare providers.
4881 Grant Rd sits on .75 acres and features a 4.6/1000 parking ratio that includes 58 surface and 20 covered parking spaces. The medical building is proximate to 641-bed Tucson Medical Center, Banner - University Medical Center Tucson, and St. Joseph’s Hospital. The location is also close to Interstate 10 and State Route 77 and an assortment of amenities including grocery stores, pharmacies, and restaurants, all within a short driving distance.
The seller, Hazen Enterprises, was represented by Travis Ives, Gino Lollio and Tyler Morss of Cushman & Wakefield’s U.S. Healthcare Capital Markets Team in collaboration with Bryce Horner of Cushman & Wakefield | PICOR in Tucson who provided local advisory. Ives notes that this is a highly desirable medical office asset that is 100% leased to a quality tenant and well positioned within a thriving healthcare community.
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