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Andy Burke Of Westcore Acquires Industrial Campus In Phoenix For $90.7M From Richard Mack
SOLD
$90,700,000
Arizona
See Similar DealsIndustrial997,437 SF
Sold 01/09/2026
SOLD
Andy Burke Of Westcore Acquires Industrial Campus In Phoenix For $90.7M From Richard Mack
23869 North 19th Avenue, 23975 North 19th Avenue & 1775 West Alameda Road
See Similar DealsIndustrial997,437 SF
Sold 01/09/2026
Summary
ARIZONA
Asset Type:Industrial
Price Per Square Foot:$90
Total Square Footage:997,437 SF
Transaction Type:Sale
A three-building industrial campus consisting of 332,479 square feet located at 23869 North 19th Avenue, 23975 North 19th Avenue & 1775 West Alameda Road in Phoenix, AZ, was sold for $90,700,000. The buildings are set to be rebranded as Westcore Innovation Park following the acquisition.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $90,700,000
- Square Footage: 332,479
- Address: 23869 North 19th Avenue, 23975 North 19th Avenue & 1775 West Alameda Road
- Market: Phoenix, AZ
- Price Per Square Foot: $273
- Buyer: Andy Burke - Westcore
- Seller: Richard Mack - Mack Real Estate Group
Andy Burke represented Westcore in this transaction, while Richard Mack represented Mack Real Estate Group, facilitating the deal for the industrial campus acquisition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,837,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$322,237.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$429,964.27
Annual Debt Service$5,159,571.28
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