Pennybacker Capital Management Acquires Industrial Property In Tempe, AZ For $11.5M
SOLD
$11,500,000
+ 1
Arizona
See Similar DealsIndustrial71,142 SF
Sold 11/03/2022
SOLD
Pennybacker Capital Management Acquires Industrial Property In Tempe, AZ For $11.5M
6720 South Clementine Court, Tempe, Arizona 85283, United States
See Similar DealsIndustrial71,142 SF
Sold 11/03/2022
+ 1
Summary
ARIZONA
Asset Type:Industrial
Price Per Square Foot:$161
Total Square Footage:71,142 SF
Transaction Type:Sale
An industrial property located at 6720 S Clementine Ct in Tempe, AZ has been sold. The property spans a total of 71,142 square feet and was sold for a price of $11,500,000, resulting in a price per square foot of $162.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11,500,000
Pennybacker Capital Management has acquired the property. The deal was facilitated by the brokers Phil Haenel, Mike Haenel, Will Strong, and Andy Markham from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$613,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,857.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$54,515.87
Annual Debt Service$654,190.40
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