Premier Commercial Properties & Breunig Bell Rd. Acquire Retail Building In Glendale, AZ For $9M
6950 West Bell Road
$9,000,000
$231/SF
Building Size
38,826 SF
Asset Type
Retail
Closing
Dec 21, 2023
About this deal
AI
Velocity Retail Group has successfully sold a 38,826-square-foot retail building located at 6950 West Bell Road in Glendale, Arizona. The property was sold for a total of $9 million, resulting in a price per square foot of $232.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,000,000
- Square Footage: 38,826
- Address: 6950 West Bell Road, Glendale, AZ
- Market: Glendale, AZ
The buyer in this transaction is Premier Commercial Properties, LLC & Breunig Bell Rd., LLC. The seller was represented by Bob Crum from Ross Brown Partners, along with Darren Pitts, Eli Castronova, and Richard Francis from Velocity Retail Group.
Players
Glendale 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93