George Oliver & Ascentris Purchase Office Building In Scottsdale For $26.05M
4141 North Scottsdale Road
$26,050,000
$160/SF
Building Size
162,227 SF
Asset Type
Office
Closing
Jun 10, 2024
AI
The property involved in the transaction is a 162,227-square-foot office building located at 4141 North Scottsdale Road in Scottsdale, AZ. The sale price for this asset was $26,050,000, equating to a price per square foot of $161.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $26,050,000
- Buyer: George Oliver & Ascentris
- Brokers: Ben Geelan & Will Mast - JLL
- Market: Scottsdale, AZ
- Acres: 3
Phoenix-based developer George Oliver, known for its experiential office transformations, in conjunction with Ascentris, successfully acquired the office building in Old Town Scottsdale for $26.05 million. Representing the buyers in this transaction were the brokers Ben Geelan and Will Mast from JLL.
Players
Scottsdale 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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93