Cushman & Wakefield Secures $34M Acquisition Loan For Northsight Corporate Center
14400 North 87th Street
$34,000,000
$248/SF
Building Size
136,682 SF
Asset Type
Office
Closing
May 8, 2024
AI
The Northsight Corporate Center in Scottsdale, AZ, with an address at 14400 North 87th Street, spans 136,682 square feet. The office property was involved in an acquisition loan amounting to $34,000,000. The building, fully occupied by an investment management company, offers flexible floor plates, ample parking, electric vehicle charging stations, and an onsite restaurant.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $34,000,000
- Market: Scottsdale, AZ
- Landlord: Vertical Ventures
- Broker: Kristian Brown - Cushman & Wakefield
Cushman & Wakefield, represented by Kristian Brown, played a significant role in arranging the $34 million financing for the Northsight Corporate Center. The property's amenities cater to the needs of the investment management company occupying the building, with features like electric vehicle charging stations and an onsite restaurant contributing to a comfortable working environment.
Scottsdale Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93