Berkeley Partners Acquires Industrial Properties In Phoenix & Chandler, AZ For $25.5M
SOLD
$25,500,000
Arizona
See Similar DealsIndustrial156,112 SF
Sold 11/01/2022
SOLD
Berkeley Partners Acquires Industrial Properties In Phoenix & Chandler, AZ For $25.5M
235 East Pima Street, Phoenix, Arizona 85004, United States
See Similar DealsIndustrial156,112 SF
Sold 11/01/2022
Summary
ARIZONA
Asset Type:Industrial
Price Per Square Foot:$163
Total Square Footage:156,112 SF
Transaction Type:Sale
The industrial property located at 235 E. Pima St, 5740 W. Oakland St., and 481 N. Dean Ave in Phoenix and Chandler, AZ has been sold in a recent transaction. The property spans a total of 156,112 square feet and was purchased by Berkeley Partners for a total sale price of $25,500,000. This equates to a price per square foot of $163.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $25,500,000
- Address: 235 E. Pima St, 5740 W. Oakland St., and 481 N. Dean Ave
- Market: Phoenix and Chandler, AZ
The sale was facilitated by the real estate brokerage firm Cushman & Wakefield, with Will Strong, Greer Oliver, and Connor Nebeker-Hay representing the buyer, Berkeley Partners. The property was previously owned by Bird Dog Industrial, HPI, and Long Wharf Capital.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,360,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$90,596.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$120,883.01
Annual Debt Service$1,450,596.11
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