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PHOENIX-A Nashville-based health-care provider is staying put in 20,050 sf at Central Park Forest, situated at 2700 N. Third St. in midtown Phoenix. The lease is valued at $1.2 million.

VHS Phoenix Health Plan Inc. oversees insurance benefits at local hospitals. It recently opened corporate offices in Phoenix and plans on remaining at Central Park Forest due to the property’s park-like atmosphere, say officials.

The midtown area boasts a 14% vacancy and is among the Valley’s highest for available sublease office space, which by calculations takes the rate to a whopping 17%.

Central Park Forest is just south of Thomas Road. The Squaw Peak Parkway is less than two miles to the east and downtown Phoenix is about four miles to the south.

Amy Schupp of the Phoenix office of CB Richard Ellis handled the transaction on behalf of building owner, SOFI IV-SPM Portfolio V LLC of Phoenix. Bill Blake of Lee & Associates’ Phoenix office acted on the tenant’s behalf.

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