JLL Facilitates $5.3M Refinance Loan For Camelback East Shops In Phoenix
3202 East Camelback Road
$5,300,000
$210/SF
Building Size
25,129 SF
Asset Type
Retail
Closing
Mar 12, 2024
AI
The property involved is the Camelback East Shops, a retail center located at 3202 East Camelback Road in Phoenix, AZ. The asset spans 25,129 square feet and has been refinanced for a loan amount of $5,300,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,300,000
- Market: Phoenix, AZ
- Tenants: Tarbell’s, First Watch, Van’s Golf Shops
- Landlord: MDC Realty Advisors
- Brokers: Eric Tupler & Will Haass - JLL
JLL Capital Markets played a key role in facilitating the $5.3 million loan to refinance the Camelback East Shops. Noteworthy tenants at the retail center include Tarbell’s, First Watch, and Van’s Golf Shops, bringing vibrancy to the property.
Players
Phoenix Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93