Time Equities Acquires Office Building In Phoenix, AZ For $43M
SOLD
$43,000,000
+ 1
Arizona
See Similar DealsOffice268,000 SF
Sold 08/30/2022
SOLD
Time Equities Acquires Office Building In Phoenix, AZ For $43M
11811 North Tatum Boulevard, Phoenix, Arizona 85028, United States
See Similar DealsOffice268,000 SF
Sold 08/30/2022
+ 1
Summary
ARIZONA
Asset Type:Office
Price Per Square Foot:$160
Total Square Footage:268,000 SF
Transaction Type:Sale
The office property located at 11811 N Tatum Blvd in Phoenix, AZ was recently sold in a closed transaction. The property spans 268,000 square feet and was sold for a total price of $43,000,000, resulting in a price per square foot of $160.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $43,000,000
- Square Footage: 268,000
- Address: 11811 N Tatum Blvd, Phoenix, AZ
- Market: Phoenix, AZ
The buyer in this transaction was Time Equities, represented by Aaron Madeiros & Keaton Baum from Time Equities. The seller was Sterling Equities & Lincoln Property Company, represented by Barry Gabel & Chris Marchildon from CBRE.
Players
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BROKERAGE
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,293,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$152,769.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$203,841.94
Annual Debt Service$2,446,103.25
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