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200 East Van Buren Street

Eric Stenson's Pivot 200 EVC Acquires Downtown Phoenix Office Building For $14.5M
SOLDOffice

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

Steven Schwarz

ViaWest Group

Seller

$60.5M

vol

2 deals

Seller

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