facebook
Traded Co logo
Submit
Daily limit: 0/10

CIP Real Estate Purchases Broadway 101 Commerce Park In Mesa From Canyon Partners For $168.3M

Property Image
SOLD
$168,300,000
Molly Miller Hunt
Will Strong
Robert (Rob) Rubano
+ 3

Arizona

See Similar Deals
Industrial809,230 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

CIP Real Estate Purchases Broadway 101 Commerce Park In Mesa From Canyon Partners For $168.3M

2140 West Broadway Road

See Similar Deals
Industrial809,230 SF
Sold
Molly Miller Hunt
Will Strong
Robert (Rob) Rubano
+ 3
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$208
Total Square Footage:809230 SF
Transaction Type:Sale

CIP Real Estate purchased Broadway 101 Commerce Park, an 809,230 SF Class A industrial park located at 2140-2360 West Broadway Road in Mesa, AZ, from Canyon Partners Real Estate LLC for $168.3 million. The acquisition represents a price per square foot of $208 and marks the largest Phoenix industrial sale of 2024.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $168,300,000
  • Sale Date: 01/10/2025
  • Square Footage: 809,230
  • Address: 2140-2360 West Broadway Road
  • Market: Mesa, AZ
  • PPSF: $208

The sale was brokered by Brian Share, Michael Matchett, Molly Hunt, Will Strong, and Joseph "Joe" Lieske from Cushman & Wakefield. Additionally, Cushman & Wakefield arranged a $93.8 million acquisition loan via J.P. Morgan Asset Management for the transaction. Mortgage brokers involved include Robert (Rob) Rubano, Brian Share, and Joseph Lieske, also from Cushman & Wakefield.

Players

Brian Share
Cushman & Wakefield
Brian Share
23 deals$3.8B volume(310) 595-2231
BROKER
Joseph ''Joe" Lieske
Cushman & Wakefield
Joseph ''Joe" Lieske
7 deals$2.5B volume
BROKER
Robert (Rob) Rubano
Hines
Robert Rubano
33 deals$6.1B volume
BROKER
Will Strong
Cushman & Wakefield
Will Strong
53 deals$3.2B volume
BROKER
Molly Miller Hunt
Cushman & Wakefield
Molly Miller Hunt
28 deals$1.9B volume(602) 361-9501
BROKER
Michael Matchett
Cushman & Wakefield
Michael Matchett
23 deals$1.6B volume(949) 375-7378
BROKER

Details

SOLD
IMAGE: 01/10/2025 ADDRESS: 2140-2360 West Broadway Road MARKET: Mesa, AZ ASSET TYPE: Industrial BUYER: CIP Real Estate SELLER: Canyon Partners Real Estate LLC BROKERS: Brian Share, Michael Matchett, Molly Hunt, Will Strong - & Joseph ''Joe" Lieske - Cushman & Wakefield MORTGAGE BROKERS: Robert (Rob) Rubano, Brian Share & Joseph Lieske - Cushman & Wakefield SALE PRICE: $168,300,000 SF: 809,230 ~ PPSF: $208 NOTE: CIP Real Estate purchased Broadway 101 Commerce Park, an 809,230 SF Class A industrial park in Mesa, AZ, from Canyon Partners Real Estate for $168.3M, marking the largest Phoenix industrial sale of 2024. Cushman & Wakefield brokered the sale and arranged a $93.8M acquisition loan via J.P. Morgan Asset Management.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$8,976,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$597,934.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$797,827.86
Annual Debt Service$9,573,934.35