OAKBROOK TERRACE, IL-DeVry Inc., based here, has sold two of itsfacilities for nearly $28.4 million. DeVry sold its campus at 2149W. Dunlap Ave. in Phoenix and its campus at 3600 S. 344th Ave. inFederal Way, WA to LBA Realty, based in Irvine CA.

Portions of each of the facilities will be leased back by DeVry,which provides undergraduate and graduate degree programs intechnology, business and management. A cap rate was not disclosed.A representative for Cushman & Wakefield did not respond to arequest for an interview. Ned Franke, Mike Sayre, Larry Downey andJerry Jacobs, all with Cushman & Wakefield, handled the salenegotiations.

DeVry will lease 66,000 sf in the 120,000-sf building inPhoenix. DeVry will lease 60,000 sf in the 102,000-sf building inFederal Way. The term of both leases was 10 years. Lease rates werenot disclosed. Cushman & Wakefield will be the leasing agentsfor both properties.