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Exeter Acquires Industrial Asset In Litchfield Park For $113.55 Million With Will Strong As The Broker

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SOLD
$113,550,000

Arizona

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Industrial906,607 SF
Sold 09/15/2025
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SOLD

Exeter Acquires Industrial Asset In Litchfield Park For $113.55 Million With Will Strong As The Broker

16451 West Glendale Avenue

See Similar Deals
Industrial906,607 SF
Sold 09/15/2025
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Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$125
Total Square Footage:906,607 SF
Transaction Type:Sale

The asset involved in this transaction is an industrial property located at 16451 West Glendale Avenue in the Litchfield Park market. The sale price for this property was $113,550,000, with a total square footage of 906,607, resulting in a price per square foot of $125.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $113,550,000
  • Address: 16451 West Glendale Avenue
  • Market: Litchfield Park
  • Square Footage: 906,607
  • Price per Square Foot: $125
  • Buyer: Exeter
  • Seller: Jack McKinney, Sr., Jason Chapman & Christopher McKinney - McKinney Investments, Sean Armstrong & Brent Fraker - Westport Capital; Jonathan Watson & Caitlyn Mach - AEW
  • Broker: Will Strong - Cushman & Wakefield

The key individuals involved in this transaction include the buyer Exeter and various sellers from McKinney Investments and Westport Capital, along with representatives from AEW. The deal was brokered by Will Strong from Cushman & Wakefield, who facilitated the transaction among the involved parties.

Players

Will Strong
54 deals$3.2B volume
BROKER

Cushman & Wakefield
BROKERAGE


Details

SOLD
IMAGE: Brent Fraker, Jack McKinney Sr., Christopher McKinney, Jonathan Watson, Jason Chapman, Caitlyn Mach & Sean Armstrong DATE: 09/15/2025 ADDRESS: 16451 West Glendale Avenue MARKET: Litchfield Park ASSET TYPE: Industrial BUYER: Exeter SELLER: Jack McKinney, Sr., Jason Chapman & Christopher McKinney - McKinney Investments, Sean Armstrong & Brent Fraker - Westport Capital; Jonathan Watson & Caitlyn Mach - AEW (@AEW_Global) BROKER: Will Strong - Cushman & Wakefield (@CushWake) SALE PRICE: $113,550,000 SF: 906,607 ~ PPSF: $125

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

$6,055,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$403,419.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$538,284.93
Annual Debt Service$6,459,419.17