Updated Dec 4, 2024
Bob O’Neill Acquires Chandler Airport Business Park For $45.5M
1900 East Queen Creek Road, 1950 East Queen Creek Road, 2800 South Cooper Road & 2850 South Cooper Road
$45,500,000
$35/SF
Building Size
318,700 SF
Asset Type
Industrial
Closing
Mar 18, 2024
About this deal
AI
The Chandler Airport Business Park, located at 1900 East Queen Creek Road, 1950 East Queen Creek Road, 2800 South Cooper Road, and 2850 South Cooper Road in Chandler, AZ, has been acquired by CapRock Partners for $45.5 million. This industrial campus spans 318,700 square feet with a price per square foot of $143.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $45,500,000
- Buyer: Bob O’Neill - CapRock Partners
- Seller: Chamberlain Development
- Brokers: Fenton Kelly, Stein Koss & Tom Lauer - Lee & Associates
CapRock Partners, a Newport Beach-based industrial investor, made the acquisition of the Chandler Airport Business Park, expanding its investment portfolio into the Phoenix area. The sale was facilitated by Fenton Kelly, Stein Koss, and Tom Lauer of Lee & Associates, showcasing a strategic move by CapRock Partners in the industrial real estate market.
Players
Gilbert Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93