Hipp Investments LLC Acquires Office Building From Southwest Cardiovascular Associates For $10.4M In Mesa
7529 E Broadway Rd
$10,400,000
$622/SF
Building Size
16,700 SF
Asset Type
Office
Closing
Oct 18, 2024
AI
The property involved in this transaction is an office asset located at 7529 E Broadway Rd in Mesa. The transaction was finalized at a price of $10,400,000.00, encompassing a total area of 16,700 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,400,000.00
- Address: 7529 E Broadway Rd
- Market: Mesa
- Square Footage: 16,700.0
- Buyer: Hipp Investments, LLC
- Seller: Southwest Cardiovascular Associates
- Brokers: Zack Harris(), Michael Dupuy(), Zack Harris(Kidder Mathews)
The transaction included key individuals, with Zack Harris and Michael Dupuy representing the brokerage aspect of the deal. Zack Harris is affiliated with Kidder Mathews, indicating a collaborative effort in facilitating the transaction.
Players
Mesa Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.53%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93