VIVO Development Partners Acquires Office Asset In Phoenix For $14M
2011 West Camelback Road, Phoenix, Arizona 85017, United States
$14,000,000
$79/SF
Building Size
175,308 SF
Asset Type
Office
Closing
Aug 23, 2022
About this deal
AI
The office property located at 1951 & 2011 W. Camelback Road in Phoenix, AZ has been sold in a recent transaction. The property, totaling 175,308 square feet, was purchased by VIVO Development Partners for a sale price of $14,000,000. With a price per square foot of $80, this transaction represents an investment in the Phoenix office market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $14,000,000
The sale of this office asset was facilitated by the brokers Geoffrey Turbow, Gary Cornish, Barry Gabel, and Chris Marchildon from CBRE. Their expertise and representation of the buyer and seller, VIVO Development Partners and Camelwest Plaza, respectively, contributed to the successful completion of this transaction.
On the Map
$14,000,000
$79/SF
Office
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Players
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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93