Pritzker Realty Group Acquires 24 Acres Of Land In Phoenix For $16.5 Million
4507 North 45th Avenue
$16,500,000
Building Size
—
Asset Type
Land
Closing
Dec 17, 2024
About this deal
AI
On December 17, 2024, 24 acres of land located at 4507 North 45th Avenue in Phoenix, AZ, were sold for $16,500,000. This piece of infill land is part of the growing industrial development market in the metro area.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $16,500,000
- Address: 4507 North 45th Avenue
- Market: Phoenix, AZ
- Acres: 24
- Buyer: Pritzker Realty Group (PRG)
- Seller: Hensley Beverage Group
- Broker Representatives: Dylan Sproul, Paul Borgesen & Royden Hudnall - Transwestern
Pritzker Realty Group's acquisition marks its first speculative industrial development in the Phoenix metro area, facilitated with the expertise of brokers from Transwestern, who represented both parties in this transaction.
On the Map
$16,500,000
Land
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Phoenix Land Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93