GRUBB & ELLIS HEALTHCARE REIT ACQUIRES 41,000-SF MEDICAL OFFICE PROPERTY

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TUCSON, ARIZ. — Grubb & Ellis Healthcare REIT has purchased Academy Medical Center, a four-story medical office building in Tucson. Located at 310 N. Wilmot Rd., the 41,000-square-foot building is 94.5 percent leased to numerous tenants including Healthsouth Surgery, Laboratory Corporation of America and Academy Dental Care. This is the third site acquired by Grubb & Ellis Healthcare REIT in the Tucson area. Braxton Glass of E.B.S. & Associates represented the seller, an unaffiliated third party, in the transaction. Funding for the acquisition was primarily provided by Wachovia Financial Services Inc.

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