Holualoa Cos. Acquires 12-acre Commercial Property In Phoenix, AZ For $50.1M
2141 East Highland Avenue, Phoenix, Arizona 85016, United States
$50,100,000
$230/SF
Building Size
217,433 SF
Asset Type
Commercial
Closing
Jan 10, 2022
AI
The commercial property located at 2111 & 2141 E Highland Ave in Phoenix, AZ has been sold in a closed transaction. The property spans across 12 acres and is owned by Velocis. The buyer, Holualoa Cos., represented by Richard B. Kauffman, acquired the property through the brokerage services of Cushman & Wakefield. The sale price for the property was $50,100,000, with a total square footage of 217,433 and a price per square foot of $299.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $50,100,000
- Address: 2111 & 2141 E Highland Ave, Phoenix, AZ
- Market: Phoenix, AZ
- Buyer: Holualoa Cos. - Richard B. Kauffman
- Seller: Velocis
- Broker: Cushman & Wakefield
- Acres: 12
- Square Footage: 217,433
- Price Per Square Foot: $299
In this transaction, Richard B. Kauffman from Holualoa Cos. represented the buyer. The seller, Velocis, successfully closed the deal with the assistance of Cushman & Wakefield as the brokerage firm. The sale of this commercial property marks a significant milestone in the Phoenix, AZ market.
Players
Phoenix Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93