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D23, LLC Sells Elevate At Dunlap Office Building In Phoenix For $11.3M

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SOLD
$13,000,000

Arizona

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Office93,661 SF
Sold 02/07/2024
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Property Image
SOLD

D23, LLC Sells Elevate At Dunlap Office Building In Phoenix For $11.3M

2233 West Dunlap Avenue

See Similar Deals
Office93,661 SF
Sold 02/07/2024
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Summary

ARIZONA
Asset Type:Office
Price Per Square Foot:$138
Total Square Footage:93,661 SF
Transaction Type:Sale

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:

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

Michael Kitlica
5 deals$55.3M volume
BROKER

Jerry Roberts
Cushman & Wakefield
1 deal$13M volume(602) 881-5528
BROKER

Patrick (Pat) Boyle
Cushman & Wakefield
1 deal$13M volume(602) 229-5828
BROKER

Details

SOLD
IMAGE: Jerry Roberts, Michael Kitlica & Pat Boyle DATE: 02/07/2024 ADDRESS: 2233 West Dunlap Avenue MARKET: Phoenix, AZ ASSET TYPE: Office SELLER: D23, LLC BROKERS: Jerry Roberts, Michael Kitlica & Pat Boyle - Cushman & Wakefield SALE PRICE: $13,000,000 SF: 93,661 ~ PPSF: $139 NOTE: Cushman & Wakefield brokered the sale of Elevate at Dunlap, a four-story, 93,661-square-foot office building in Phoenix, to Maricopa County for $11.3 million.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$46,186.27
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