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Glez C Properties LLC Purchases Industrial Building In Peoria For $9.5M

Property Image
SOLD
$9,500,000
Gary Cornish
Jeffrey Garza Walker
+ 1

Arizona

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Industrial81,060 SF
Sold 04/09/2024
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Property Image
SOLD

Glez C Properties LLC Purchases Industrial Building In Peoria For $9.5M

10857 North 95th Avenue

See Similar Deals
Industrial81,060 SF
Sold 04/09/2024
Gary Cornish
Jeffrey Garza Walker
+ 1
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Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$117
Total Square Footage:81,060 SF
Transaction Type:Sale

An industrial building located at 10857 North 95th Avenue in Peoria, AZ, was recently sold in a transaction involving Glez C Properties LLC as the buyer and Chris Finn as the seller. The property spans 81,060 square feet and was acquired for $9.5 million, translating to a price per square foot of $117.

Summary of transaction details:

NAI Horizon played a crucial role in facilitating the purchase, ensuring a successful deal between the buyer and the seller. The property, situated in the Peoria market, attracted Glez C Properties LLC, who saw the potential in this industrial asset to enhance their real estate portfolio. The transaction was completed smoothly with the assistance of the respective real estate representatives, Art Verdugo, Jeffrey Garza Walker, Gary Cornish, and Geoffrey Turbow.

Players

Geoffrey Turbow
11 deals$196.2M volume
BROKER

Gary Cornish
Newmark
7 deals$162.6M volume(602) 980-8898
BROKER

Jeffrey Garza Walker
NAI Global
4 deals$26.2M volume(602) 509-4700
BROKER

Jesus (Art) Verdugo
NAI Global
1 deal$9.5M volume(602) 393-6646
BROKER

Details

SOLD
IMAGE: 04/09/2024 ADDRESS: 10857 North 95th Avenue MARKET: Peoria, AZ ASSET TYPE: Industrial BUYER: Glez C Properties LLC SELLER: Chris Finn BUYER'S REP: Art Verdugo & Jeffrey Garza Walker - NAI Capital SELLER'S REP: Gary Cornish & Geoffrey Turbow - CBRE SALE PRICE: $9,500,000 SF: 81,060 ~ PPSF: $117 NOTE: NAI Horizon facilitated the purchase of an industrial building at 10857 N. 9th Ave. in Peoria, northwest of Phoenix, with Glez C Properties LLC acquiring the asset from Chris Finn for $9.5 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$506,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,751.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,034.85
Annual Debt Service$540,418.16