Cushman & Wakefield Brokers Facilitate $208M Industrial Sale In Mesa, AZ
SOLD
$208,000,000
Arizona
See Similar DealsIndustrial858,901 SF
Sold 07/21/2022
SOLD
Cushman & Wakefield Brokers Facilitate $208M Industrial Sale In Mesa, AZ
8009 East Ray Road, Mesa, Arizona 85212, United States
See Similar DealsIndustrial858,901 SF
Sold 07/21/2022
Summary
ARIZONA
Asset Type:Industrial
Price Per Square Foot:$242
Total Square Footage:858,901 SF
Transaction Type:Sale
The industrial property located at 8009 East Ray Road in Mesa, AZ has been sold in a closed transaction. The property spans 64 acres and has a total square footage of 858,901. The sale price for the property was $208,000,000, resulting in a price per square foot of $242.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $208,000,000
- Address: 8009 East Ray Road, Mesa, AZ
- Market: Mesa, AZ
- Landlord: Martens Development & Dune Real Estate Partner
- Brokers: Will Strong, Greer Oliver, Connor Nebeker-Hay - Cushman & Wakefield
The sale of this industrial property was facilitated by the brokers Will Strong, Greer Oliver, and Connor Nebeker-Hay from Cushman & Wakefield. They represented the seller, Martens Development & Dune Real Estate Partner, in this transaction. This successful deal highlights the expertise and knowledge of these industry professionals.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$11,093,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$738,980.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$986,026.12
Annual Debt Service$11,832,313.40
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