JLNI LLC Acquires Office Property In Tempe, AZ For $14.1M
6420 South Kyrene Road, Tempe, Arizona 85283, United States
$14,100,000
$214/SF
Building Size
65,857 SF
Asset Type
Office
Closing
Oct 12, 2022
About this deal
AI
The office property located at 6420 S Kyrene Road in Tempe, AZ has been sold in a recent transaction. The property spans across 5.5 acres and offers a total square footage of 65,857. The sale price for this transaction was $14,100,000, resulting in a price per square foot of $214.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $14,100,000
- Address: 6420 S Kyrene Road, Tempe, AZ
- Market: Tempe, AZ
- Acres: 5.5
The buyer of this property is JLNI LLC, while the seller is BH Properties. The transaction was facilitated by Eric Wichterman, Mike Coover, Tracy Cartledge, and Bob Buckley from Cushman & Wakefield acting as brokers representing both parties involved in the deal.
Players
Tempe 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93