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Schnitzer Properties Acquires Industrial Property In Phoenix, AZ For $46.2M

Property Image
SOLD
$46,200,000
Greer Oliver
Connor Nebeker-Hay
Will Strong
+ 2

Arizona

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Industrial225,333 SF
Sold 08/01/2022
the dealplayerscompscontact
Property Image
SOLD

Schnitzer Properties Acquires Industrial Property In Phoenix, AZ For $46.2M

4710 East Elwood Street, Phoenix, Arizona 85040, United States

See Similar Deals
Industrial225,333 SF
Sold 08/01/2022
Greer Oliver
Connor Nebeker-Hay
Will Strong
+ 2
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$205
Total Square Footage:225,333 SF
Transaction Type:Sale

The industrial property located at 4602 & 4710 E. Elwood St in Phoenix, AZ has been sold, along with a loan being secured.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $46,200,000
  • Address: 4602 & 4710 E. Elwood St, Phoenix, AZ
  • Market: Phoenix, AZ
  • Square Footage: 225,333
  • Price per Square Foot: $205

The buyer of the property is Schnitzer Properties, while the seller is LBA Logistics. The transaction was facilitated by brokers from Cushman & Wakefield, namely Will Strong, Jeff Chiate, Mike Adey, Greer Oliver, and Connor Nebeker-Hay. M&T Bank acted as the lender, providing a loan amount of $28,000,000.

This sale and loan transaction highlights the value and potential of the industrial property market in Phoenix, AZ. The involvement of reputable brokers and a significant loan amount indicates the confidence and interest in this particular property.

Players

Mike Adey
Cushman & Wakefield
Mike Adey
18 deals$1.3B volume
BROKER
Jeff Chiate
Cushman & Wakefield
Jeff Chiate
38 deals$2.7B volume
BROKER
Will Strong
Cushman & Wakefield
Will Strong
54 deals$3.2B volume
BROKER
Connor Nebeker-Hay
JLL
Connor Nebeker-Hay
8 deals$657.3M volume
BROKER
Greer Oliver
JLL
Greer Oliver
10 deals$771.6M volume
BROKER
M&T Realty Capital Corporation
M&T Realty Capital Corporation
BROKERAGE
SP
Schnitzer Properties
BUYER
LBA Logistics
LBA Logistics
SELLER
M&T Bank
M&T Bank
LENDER
M&T Realty Capital Corporation
M&T Realty Capital Corporation
LENDER

Details

SOLD
IMAGE: & LOAN IMAGE: Will Strong, Jeff Chiate, Mike Adey, Connor Nebeker-Hay & Greer Oliver DATE: 08/01/2022 ADDRESS: 4602 & 4710 E. Elwood St MARKET: Phoenix, AZ ASSET TYPE: Industrial BUYER: Schnitzer Properties SELLER: LBA Logistics BROKERS: Will Strong, Jeff Chiate, Mike Adey, Greer Oliver & Connor Nebeker-Hay - Cushman & Wakefield LENDER: M&T Bank SALE PRICE: $46,200,000 SF: 225,333 ~ PPSF: $205 LOAN AMOUNT: 28,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,464,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$164,138.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$219,011.57
Annual Debt Service$2,628,138.84