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City Of Peoria Acquires Industrial Building From Glez C Properties LLC For $11M In Peoria AZ
SOLD
$11,000,000
Arizona
See Similar DealsIndustrial81,060 SF
Sold 11/21/2024
SOLD
City Of Peoria Acquires Industrial Building From Glez C Properties LLC For $11M In Peoria AZ
10857 North 95th Avenue
See Similar DealsIndustrial81,060 SF
Sold 11/21/2024
Summary
ARIZONA
Asset Type:Industrial
Price Per Square Foot:$135
Total Square Footage:81,060 SF
Transaction Type:Sale
The City of Peoria purchased an industrial building located at 10857 North 95th Avenue, Peoria, AZ. The asset covers 81,060 square feet and was acquired for $11,000,000. The property will serve as a police training and tactical vehicle storage facility, benefiting from convenient freeway access.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11,000,000
- Sale Date: 11/21/2024
- Broker: Jeffrey Garza Walker - NAI Global
- Seller: Glez C Properties LLC
- Buyer: The City of Peoria
- Price Per Square Foot: $136
The transaction involved key representatives including Jeffrey Garza Walker from NAI Global, who acted as the broker in this deal. The City of Peoria engaged in this purchase as part of its strategy to enhance local law enforcement infrastructure.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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