Albany Road Real Estate Partners Acquires Deer Valley Four Industrial Property In Phoenix For $22.4M
23005 North 15th Avenue, 23015 North 15th Avenue, 23021 North 15th Avenue & 23025 North 15th Avenue
$22,400,000
$50/SF
Building Size
442,716 SF
Asset Type
Industrial
Closing
Oct 16, 2023
AI
Albany Road Real Estate Partners, represented by Christopher Knisley, has acquired the 110,679-square-foot industrial property known as Deer Valley Four in Phoenix, Arizona. The property, located at 23005, 23015, 23021 & 23025 North 15th Avenue, was purchased from Jeff Riggs, the representative for Baron Properties. The transaction was facilitated by the brokerage firm Cushman & Wakefield.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $22,400,000
- Square Footage: 110,679
- Price per Square Foot: $202
- Address: 23005, 23015, 23021 & 23025 North 15th Avenue, Phoenix, AZ
- Market: Phoenix, AZ
The acquisition of Deer Valley Four by Albany Road Real Estate Partners marks a significant investment in the Phoenix industrial real estate market. The property, totaling 110,679 square feet, was sold for a price of $22.4 million at a rate of $202.39 per square foot. This acquisition demonstrates the continued interest of investors in the Phoenix market and highlights the confidence in the potential growth and profitability of industrial properties in the area.
Players
Phoenix 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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93