Healthcare Education Facility Expands

PHOENIX—Newmark Grubb Knight Frank (NGKF) represented Anthem Education Group in two lease transactions, including a new 12-year lease for The Bryman School on a vacant 38,086-square-foot office building at 9215 N. Black Canyon, and a 17,455-square-foot renewal at 1445 E. Indian School Rd. in Phoenix for High Tech Institute. Phoenix-based investment firm ViaWest Group purchased the note on 9215 N. Black Canyon in an all-cash transaction.

NGKF's Geoffrey Waldrom, managing director in the Phoenix office, and Miami-based tenant representatives Mitchell Millowitz, executive managing director; Lance Benson, executive managing director; and Ryan Rosalsky, senior managing director, represented Anthem Education Group in both transactions. Bob Lundstedt, vice president, and Jerry Hillery, associate vice president, of DAUM Commercial Real Estate, had the leasing assignment on the Black Canyon property, and Mike Garlick with Lee & Associates, represented the ownership HTI Building, LLC, in the lease renewal at the Indian School property.

“The Bryman School's selection of the former Western International University campus will give the school a strong running start in the formation of its second campus in North Phoenix,” Waldrom said. “The building is already set up for classroom use and the property comes with plenty of parking. It is ideal for an education use, with its huge parking ratio of 11.25 vehicles spaces per 1,000 square feet of rentable space, fantastic visibility from Interstate 17 and Dunlap Road, and location within the post-secondary education hub.”

ViaWest Group will obtain financing from Wells Fargo to fund the tenant improvements for the Black Canyon building, which The Bryman School is planning to open in the 1^st quarter of 2014. 

“We are excited to have another quality asset in our portfolio, particularly one we were able to add significant value to immediately, by having a cycle-tested quality tenant with substantial investment behind it like The Bryman School,” noted Gary Linhart, a principal and co-founder of ViaWest.

The Bryman School was founded in 1964 and joined Anthem Education in 1989. The college offers career-focused training programs in healthcare, information technology and technical trades. Anthem Education is a Phoenix-based company comprised of eight different programs across 34 campuses nationwide.