Hinkson Co. LLC Acquires Retail Asset In Casa Grande, AZ For $7.7M
1005 North Promenade Parkway
$7,700,000
$34/SF
Building Size
221,328 SF
Asset Type
Retail
Closing
May 15, 2024
About this deal
AI
The 221,328-square-foot former Casa Grande Mall located at 1005 North Promenade Parkway in Casa Grande, AZ, was sold for $7,700,000. The property was acquired by Hinkson Co. LLC, with the transaction facilitated by Brian Polachek of SRS Real Estate Partners.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,700,000
- Market: Casa Grande, AZ
- Price Per Square Foot: $35
- Buyer: Hinkson Co. LLC
- Broker: Brian Polachek - SRS Real Estate Partners
SRS Real Estate Partners orchestrated the sale of the former Casa Grande Mall to Hinkson Co. LLC, who intends to redevelop the property, as revealed by the note accompanying the transaction details.
Casa Grande Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.06%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93