West Valley Properties, Inc Acquires Office Property In Gilbert, AZ For $53.1M
SOLD
$53,100,000
Arizona
See Similar DealsOffice149,321 SF
Sold 09/15/2022
SOLD
West Valley Properties, Inc Acquires Office Property In Gilbert, AZ For $53.1M
355 East Germann Road, Gilbert, Arizona 85297, United States
See Similar DealsOffice149,321 SF
Sold 09/15/2022
Summary
ARIZONA
Asset Type:Office
Price Per Square Foot:$355
Total Square Footage:149,321 SF
Transaction Type:Sale
Located at 355 E Germann Rd in Gilbert, AZ, this 12.78-acre office property was recently sold in a closed transaction. The property spans a total of 149,321 square feet, with a sale price of $53,100,000, resulting in a price per square foot of $356. The transaction took place on September 15, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $53,100,000
- Address: 355 E Germann Rd, Gilbert, AZ
- Market: Gilbert, AZ
- Acres: 12.78
The buyer, West Valley Properties, Inc, acquired the property from the seller, Orsett Properties. The transaction was facilitated by CJ Osbrink from Newmark, serving as the broker in the deal.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,832,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$188,653.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$251,721.09
Annual Debt Service$3,020,653.08
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