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Cohen Asset Management Acquires Industrial Building In Gilbert AZ For $8.7 Million

Property Image
SOLD
$8,700,000
Foster Bundy
Will Strong
Phil Haenel
+ 1

Arizona

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Industrial48,823 SF
Sold 12/20/2024
the dealplayerscompscontact
Property Image
SOLD

Cohen Asset Management Acquires Industrial Building In Gilbert AZ For $8.7 Million

779 North Colorado Street

See Similar Deals
Industrial48,823 SF
Sold 12/20/2024
Foster Bundy
Will Strong
Phil Haenel
+ 1
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$178
Total Square Footage:48,823 SF
Transaction Type:Sale

Cohen Asset Management purchased an industrial building located at 779 North Colorado Street in Gilbert, AZ. The property spans 48,823 square feet and was sold for $8.7 million, equating to a price per square foot of $178.

Summary of transation details:

This transaction was facilitated by the brokerage team at Cushman & Wakefield, representing both Cohen Asset Management and De Pietro Holdings in the sale of the property, which is occupied by Rigid Industries LED Lighting.

Players

Phil Haenel
Cushman & Wakefield
Phil Haenel
20 deals$518.3M volume
BROKER
Will Strong
Cushman & Wakefield
Will Strong
54 deals$3.2B volume
BROKER
Foster Bundy
Cushman & Wakefield
Foster Bundy
11 deals$251.9M volume(602) 229-5919
BROKER
Katie Repine
Cushman & Wakefield
Katie Repine
4 deals$93M volume(602) 468-8563
BROKER

Details

SOLD
IMAGE: 12/20/2024 ADDRESS: 779 North Colorado Street MARKET: Gilbert, AZ ASSET TYPE: Industrial BUYER: Cohen Asset Management SELLER: De Pietro Holdings BROKERS: Foster Bundy, Phil Haenel, Will Strong & Katie Repine - Cushman & Wakefield SALE PRICE: $8,700,000 SF: 48,823 ~ PPSF: $178 NOTE: Cohen Asset Management acquired a 48,823-square-foot industrial building in Gilbert, AZ, for $8.7 million from De Pietro Holdings. Cushman & Wakefield’s Phoenix team represented both parties in the sale of the property, which is occupied by Rigid Industries LED Lighting.

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

$463,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,909.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,242.44
Annual Debt Service$494,909.26