Elliot Bay Medical Properties Holdings III LLC acquires 100% leased asset for $5.5 Million
TUCSON, Ariz. – May 6, 2025 – Cushman & Wakefield announced the firm has arranged the sale of a single-tenant medical office property in Tucson, Arizona. Located at 4881 Grant Rd, the two-story building of 15,000 square feet is fully leased on a long-term basis to Pain Institute of Southern Arizona. Elliot Bay Medical Properties Holdings III LLC acquired the property from Hazen Enterprises for $5.5 million.
The seller 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.
Travis Ives, Executive Director, said, “This is a highly desirable medical office asset that is 100% leased to a quality tenant and well positioned within a thriving healthcare community. 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. The property is near several established healthcare facilities, major thoroughfares and freeways, and retail amenities making it a convenient healthcare destination for both patients and employees.”
4881 Grant Rd sits on ±0.75 acres and with a 4.6/1000 parking ratio 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.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com
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