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September 11, 2019  

Fully Leased Ariz. Complex for Sale

Investors are getting a crack at a Phoenix office complex valued at about $200 million.The 600,000-square-foot property, in the Airport Area submarket, is fully occupied under a triple-net lease by Apollo Education. Apollo operates the for-profit University of Phoenix, which offers courses online and at various locations around the country.At the estimated $334/sf valuation, a buyer’s initial annual yield would be just over 7%. Newmark is...

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