Updated Oct 29, 2024
Fundrise Acquires Industrial Property In Litchfield Park For $82.6M
7421 North Reems Road, Litchfield Park, Arizona 85309, United States
$82,600,000
$144,912/SF
Building Size
570 SF
Asset Type
Industrial
Closing
Apr 10, 2023
About this deal
AI
An industrial property located at 7421 N. Reems Road in Litchfield Park has been sold for a total price of $82,600,000. The property spans 570,080 square feet, resulting in a price per square foot of $145. The transaction occurred on April 10, 2023. The buyer of the property is Fundrise, while the seller is CRG.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $82,600,000
- Square Footage: 570,080
- Price Per Square Foot: $145
- Date: April 10, 2023
- Address: 7421 N. Reems Road, Litchfield Park
- Buyer: Fundrise
- Seller: CRG
The deal was facilitated by Cushman & Wakefield, with brokers Will Strong, Phil Haenel, Micki Strain, Kirk Kuller, and Molly Hunt representing both the buyer and the seller.
On the Map
$82,600,000
$144,912/SF
Industrial
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Players
Litchfield Park 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93