Federal Realty Investment Trust Acquires Office Property In Scottsdale, AZ From CapRidge Partners
6263 North Scottsdale Road, Scottsdale, Arizona 85250, United States
$53,600,000
$250/SF
Building Size
214,000 SF
Asset Type
Office
Closing
Aug 16, 2022
AI
The office property located at 6263 N Scottsdale Rd in Scottsdale, AZ has been sold in a transaction. The property sits on 7.1 acres of land.
Summary of transation details
- Property Type: Office
- Transaction Amount: $53,600,000
- Total Square Footage: 214,000
- Price per Square Foot: $250
- Buyer: Federal Realty Investment Trust
- Seller: CapRidge Partners
- Brokers: Ben Geelan & Will Mast - JLL Capital Markets
The deal's key individuals and companies involved in the transaction were Ben Geelan and Will Mast from JLL Capital Markets, representing the buyer and seller respectively.
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
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93