Cavan Companies Sells Development Site In Peoria, AZ For $11.1M
$11,100,000
Building Size
—
Asset Type
Development Site
Closing
Apr 10, 2024
AI
The $11.1 million sale of 83 Marketplace, a newly constructed Class A retail center developed by Cavan Companies in Peoria, Arizona, has been finalized by Western Retail Advisors, a Phoenix-based brokerage firm. The property is located at 83rd Avenue & Happy Valley Road in Peoria, AZ.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,100,000
- Address: 83rd Avenue & Happy Valley Road
- Market: Peoria, AZ
- Seller: Cavan Companies
- Buyer's Rep: Scott Johnson
- Seller's Rep: Brian Gausden & Jake McClaughry - Western Retail Advisors
Scott Johnson represented the buyer in the transaction, while Brian Gausden and Jake McClaughry, from Western Retail Advisors, represented the seller, Cavan Companies. The $11.1 million deal marks the successful sale of the newly developed retail center in Peoria.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.43%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93