Travis Pearson Of GI Partners Acquires 5.43 Acre Land In Phoenix From Larry Yount For $14.72M
617 South 5th Avenue
$14,720,919
Building Size
—
Asset Type
Land
Closing
Sep 22, 2026
About this deal
AI
A 5.43-acre site located at 617 South 5th Avenue in Phoenix, AZ, was acquired for $14,720,919. The property, situated at the southeast corner of 7th Avenue and Grant Street, is classified as land. This transaction is noteworthy as it facilitates a planned data center nearby an APS substation. The acquisition occurred on September 17, 2026.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $14,720,919
- Buyer: Travis Pearson - GI Partners
- Seller: Larry Yount - LKY Development
- Acquisition Date: September 17, 2026
- Site Area: 5.43 acres
- Address: 617 South 5th Avenue, Phoenix, AZ
The deal involved Travis Pearson representing GI Partners as the buyer and Larry Yount representing LKY Development as the seller. The transaction included a zoning waiver granted by Phoenix following LKY's submission of a Prop 207 claim, which sought $10 million in compensation due to potential losses from new data center regulations.
On the Map
$14,720,919
Land
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93