Time Equities Acquires Office Building In Phoenix, AZ For $43M
11811 North Tatum Boulevard, Phoenix, Arizona 85028, United States
$43,000,000
$160/SF
Building Size
268,000 SF
Asset Type
Office
Closing
Aug 29, 2022
About this deal
AI
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.
On the Map
$43,000,000
$160/SF
Office
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Phoenix Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93