Pacific Western Bank Provides $99M Construction Loan For Industrial Property At 202 S Sossaman Rd In Mesa, AZ
202 S Sossaman Rd Mesa, AZ 85208, USA
$99,000,000
$119/SF
Building Size
828,718 SF
Asset Type
Industrial
Closing
Sep 18, 2022
AI
The industrial property located at 202 S Sossaman Rd in Mesa, AZ has been involved in a closed transaction. The property spans an impressive 828,718 square feet and is owned by Contour.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $99,000,000
- Lender: Pacific Western Bank
- Landlord: Contour
- Brokers: Jeff Sause, Todd Sugimoto, Wyatt Strahan & Jason Carlos - JLL Capital Markets
- Loan Type: Construction loan
- Loan Terms: Four-year loan
The deal was facilitated by the broker team from JLL Capital Markets consisting of Jeff Sause, Todd Sugimoto, Wyatt Strahan, and Jason Carlos. They successfully secured a construction loan of $99,000,000 from Pacific Western Bank for the industrial property located at 202 S Sossaman Rd in Mesa, AZ.
Players
Mesa Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93