D23, LLC Sells Elevate At Dunlap Office Building In Phoenix For $11.3M
2233 West Dunlap Avenue
$13,000,000
$138/SF
Building Size
93,661 SF
Asset Type
Office
Closing
Feb 7, 2024
AI
The sale involved the office building located at 2233 West Dunlap Avenue in Phoenix, AZ. The property, known as Elevate at Dunlap, is a four-story office building spanning 93,661 square feet. It was sold to Maricopa County for $11.3 million, with a final sale price of $13,000,000, translating to a price per square foot of $139.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $13,000,000
- Address: 2233 West Dunlap Avenue
- Market: Phoenix, AZ
- Square Footage: 93,661
- Seller: D23, LLC
- Brokers: Jerry Roberts, Michael Kitlica & Pat Boyle - Cushman & Wakefield
Cushman & Wakefield played a crucial role in facilitating the transaction, representing the seller, D23, LLC, in the sale of Elevate at Dunlap. The brokers involved in the deal were Jerry Roberts, Michael Kitlica, and Pat Boyle, all from Cushman & Wakefield, showcasing their expertise in the Phoenix real estate market.
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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93