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Wentworth Property Co Acquires MarLam Industries Manufacturing Portfolio In Phoenix For $17.5M
SOLD
$17,500,000
Arizona
See Similar DealsIndustrial212,348 SF
Sold 10/18/2024
SOLD
Wentworth Property Co Acquires MarLam Industries Manufacturing Portfolio In Phoenix For $17.5M
834 East Hammond Lane & South 10th Street
See Similar DealsIndustrial212,348 SF
Sold 10/18/2024
Summary
ARIZONA
Asset Type:Industrial
Price Per Square Foot:$82
Total Square Footage:212,348 SF
Transaction Type:Sale
The transaction involved an industrial asset located at 834 East Hammond Lane & 2425 South 10th Street in Phoenix, AZ. The property was sold for $17,500,000 and spans a total of 106,174 square feet, resulting in a price per square foot of $165.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,500,000
- Address: 834 East Hammond Lane & 2425 South 10th Street
- Market: Phoenix, AZ
- Square Footage: 106,174
- Price Per Square Foot: $165
The buyer of the property was Wentworth Property Co., while MarLam Industries served as the seller. The transaction was facilitated by brokers Anthony DeLorenzo and Geoffrey Turbow from CBRE. Notably, CBRE also aided in the sale-leaseback of the MarLam Industries Manufacturing portfolio as part of this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14
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