Eric Stenson's Pivot 200 EVC Acquires Downtown Phoenix Office Building For $14.5M
200 East Van Buren Street
$14,500,000
$60/SF
Building Size
240,100 SF
Asset Type
Office
Closing
Dec 6, 2023
AI
Pivot 200 EVC, an entity tied to Eric Stenson, CEO of Stenson Tamaddon, has acquired a 10-story office building located at 200 East Van Buren Street in Downtown Phoenix for $14.5 million. The property spans a total of 240,100 square feet and was sold at a price of $60 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $14,500,000
- Square Footage: 240,100 SF
- Price per Square Foot: $60
- Address: 200 East Van Buren Street, Phoenix, AZ
- Market: Phoenix, AZ
The buyer of the office building is Eric Stenson, representing Pivot 200 EVC. On the other hand, the seller is Steven Schwarz, from ViaWest Group.
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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93