Updated Dec 4, 2024
Wentworth Property Co Acquires MarLam Industries Manufacturing Portfolio In Phoenix For $17.5M
834 East Hammond Lane & South 10th Street
$17,500,000
$82/SF
Building Size
106,174 SF
Asset Type
Industrial
Closing
Oct 18, 2024
About this deal
AI
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.
On the Map
$17,500,000
$82/SF
Industrial
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Players
Phoenix 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93