Updated Oct 23, 2026
Sierra Ridge Capital Acquires Industrial Asset From Auto House For $31 Million In Phoenix
East Elwood Street
$31,000,000
$252/SF
Building Size
123,032 SF
Asset Type
Industrial
Closing
Oct 14, 2026
About this deal
AI
The property asset involved in the transaction is an industrial space located at 3137 East Elwood Street in Phoenix. The sale concluded at a price of $31,000,000, encompassing a total area of 123,032 square feet, which equates to a price per square foot of $251.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $31,000,000
- Address: 3137 East Elwood Street
- Market: Phoenix
- Square Footage: 123,032
- Price per Square Foot: $251
- Buyer: Sierra Ridge Capital
- Seller: Auto House
- Brokers: Gary Cornish & Nico Burgarello - Newmark
Key individuals involved in the deal include the buyer, Sierra Ridge Capital, and the seller, Auto House. The brokerage representation for this transaction was provided by Gary Cornish and Nico Burgarello from Newmark.
On the Map
$31,000,000
$252/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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93