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Rosebud Properties Acquires Office Building In Phoenix For $34M

Property Image
SOLD
$34,000,000
Chris Marchildon
Barry Gabel

Arizona

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Office109,291 SF
Sold 07/29/2022
the dealplayerscompscontact
Property Image
SOLD

Rosebud Properties Acquires Office Building In Phoenix For $34M

2777 East Camelback Road, Phoenix, Arizona 85016, United States

See Similar Deals
Office109,291 SF
Sold 07/29/2022
Chris Marchildon
Barry Gabel
the dealplayerscompscontact
Contact now

Summary

ARIZONA
Asset Type:Office
Price Per Square Foot:$311
Total Square Footage:109,291 SF
Transaction Type:Sale

Barry Gabel & Chris Marchildon of CBRE represented both sides in the sale of an office property located at 2777 E Camelback Rd in Phoenix, AZ. The property, totaling 109,291 SF, was sold by LPC Desert West to Rosebud Properties for a price of $34,000,000, resulting in a price per square foot of $311.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $34,000,000
  • Date: 07/29/2022
  • Address: 2777 E Camelback Rd
  • Market: Phoenix, AZ
  • Buyer: Rosebud Properties
  • Seller: LPC Desert West
  • Brokers: Barry Gabel & Chris Marchildon - CBRE
  • SF: 109,291
  • PPSF: $311

The sale of the office property at 2777 E Camelback Rd in Phoenix, AZ was facilitated by Barry Gabel & Chris Marchildon of CBRE. Their expertise and representation played a crucial role in the successful transaction between LPC Desert West and Rosebud Properties.

Players

Barry Gabel
Newmark
Barry Gabel
13 deals$531.5M volume
BROKER
Chris Marchildon
Newmark
Chris Marchildon
13 deals$531.5M volume
BROKER
CBRE
CBRE
BROKERAGE
LW
LPC Desert West
SELLER

Details

SOLD
IMAGE: Barry Gabel & Chris Marchildon DATE: 07/29/2022 ADDRESS: 2777 E Camelback Rd MARKET: Phoenix, AZ ASSET TYPE: Office BUYER: Rosebud Properties SELLER: LPC Desert West BROKERS: Barry Gabel & Chris Marchildon - CBRE SALE PRICE: $34,000,000 SF: 109,291 ~ PPSF: $311

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,813,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$120,794.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$161,177.35
Annual Debt Service$1,934,128.15