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SKB And Arc Capital Partners Acquire Industrial Buildings From Nearon In Gilbert For $19M
SOLD
$19,000,000
Arizona
See Similar DealsIndustrial
Sold 11/25/2024
SOLD
SKB And Arc Capital Partners Acquire Industrial Buildings From Nearon In Gilbert For $19M
1250 North Fiesta Boulevard
See Similar DealsIndustrial
Sold 11/25/2024
Summary
ARIZONA
Asset Type:Industrial
Transaction Type:Sale
The asset involved in this transaction is a set of two fully-leased industrial buildings located at 1250 North Fiesta Boulevard in Gilbert, AZ. The total square footage of the properties exceeds 194,000 SF, and the transaction was completed for a price of $19,000,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $19,000,000
- Buyer: SKB & Arc Capital Partners
- Brokers: Foster Bundy, Katie Repine & Phil Haenel - Cushman & Wakefield
- Leased to: Kaiser Garage Doors & Gates, MKB Construction, and Symage
SKB and Arc Capital Partners acquired the properties from Nearon, successfully closing the deal on November 25, 2024. The brokers involved in this transaction played a significant role in facilitating the acquisition process for the buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,013,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,069.69
Annual Debt Service$1,080,836.32
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