10/29/2007

Cushman & Wakefield finalize sale of DeVry campuses

by

DeVry Phoenix

Irvine, Calif.-based LBA Realty has purchased two college campus facilities in Phoenix and Washington from DeVry Inc. for $28.4 million.

Ned Franke, Mike Sayre, Larry Downey and Jerry Jacobs of Cushman & Wakefield represented DeVry Inc. in the transaction.

The two facilities are a 120,000 square foot building at 2149 W. Dunlap Ave. in Phoenix and a 102,000 square foot building at 3600 S. 344th St. in Federal Way, Wash. DeVry will lease 66,000 square feet in the Phoenix property and 60,000 square feet in the Washington property, each for 10 years.

Federal Way is located roughly 25 miles south of Seattle.

Address: 2149 W. Dunlap Ave., Phoenix, Ariz. and 3600 S. 344th St., Federal Way, Wash.

Size: 222,000 square feet

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Filed Under: Office

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