QTS Data Centers Acquires 206 Acres Of Land In Avondale For $246.87M With Mark Bauer As The Broker
Avondale Road
$246,866,895
Building Size
—
Asset Type
Land
Closing
Jul 26, 2024
About this deal
AI
The transaction involved the sale of 206.08 acres of land in Avondale, Arizona, for a total price of $246,866,895. The property is part of the Hermosa Ranch Technology Campus, with a valuation of approximately $1.2 million per acre, indicating its significance within the local land market.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $246,866,895
- Buyer: QTS Data Centers
- Broker: Mark Bauer - JLL
- Date of Sale: 07/26/2024
- Location: Avondale, AZ
- Size: 206.08 acres
Mark Bauer of JLL represented the buyer, QTS Data Centers, in this significant acquisition. The purchase highlights the ongoing expansion of data center infrastructure in Metro Phoenix, which is recognized as the second-largest data center market in the United States.
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Sierra Vista Land Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93