An Anthem property, that Valley Child Care leases, sold to Ira Stegner for $3,090,000 by Anthem Heritage, LLC.
The building is located near Daisy Mountain Drive and Anthem Way, and is a 10,014 square-foot freestanding building.
Valley Child Care & Learning Center is the sole-tenant of the property, and is in an absolute lease until 2022 with three percent annual rent increases for the first ten years, and two percent increases for the remaining term.
Nick Miner, CCIM, Senior Vice President at ORION Investment Real Estate, noted, “The property was sold to a 1031 Exchange Buyer from Colorado. They identified this property because of the location in the Phoenix Metro and the long term lease with the tenant.”
The property was sold by Anthem Heritage, LLC, a long time client of Miner’s, and purchased by Ira Stegner.