Affiliate Of Discount Tire Co Acquires Desert Ridge Corporate Center In Phoenix For $35M
20830 North Tatum Boulevard & 20860 North Tatum Boulevard
$35,000,000
$63/SF
Building Size
550,416 SF
Asset Type
Office
Closing
Dec 27, 2024
AI
The asset involved in this transaction is an office property located at 20830-20860 North Tatum Boulevard in Phoenix, AZ. The total sale price for the property was $35,000,000, which equates to approximately $127.18 per square foot, covering a total area of 275,208 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $35,000,000
- Address: 20830-20860 North Tatum Boulevard
- Market: Phoenix, AZ
- Square Footage: 275,208
- Price Per Square Foot: $127.18
- Buyer: Affiliate of Discount Tire Co
- Seller: Regent Properties
The transaction was executed between an affiliate of Discount Tire Co. and Regent Properties, indicating a strategic acquisition by the buyer in the Phoenix market. This deal highlights the involvement of established companies within the commercial real estate landscape.
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
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93