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14400 North 87th Street

Cushman & Wakefield Secures $34M Acquisition Loan For Northsight Corporate Center
FINANCEDOffice

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:

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.

Players

Kristian Brown

Cushman & Wakefield

Broker

$62.7M

vol

2 deals

Broker

Scottsdale Office Market Snapshot

Boundary boundary · Office · Loan transactions

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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