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7700 South 59th Avenue, Lav...

Tradewinds Capital LP Acquires Retail Property In Laveen Village, AZ For $40.3M
SOLDRetail

Tradewinds Capital LP Acquires Retail Property In Laveen Village, AZ For $40.3M

7700 South 59th Avenue, Laveen, Arizona 85339, United States

$40,300,000

$369/SF

Building Size

109,219 SF

Asset Type

Retail

Closing

Oct 13, 2022

AI

The retail property located at 7700 S. 59th Ave in Laveen Village, AZ has been sold in a closed transaction. The property spans 109,219 square feet and was sold for a total price of $40,300,000, resulting in a price per square foot of $369. The buyer of the property was Tradewinds Capital LP, while the seller was Kitchell Corp. The transaction was facilitated by Ryan Schubert and Michael Hackett of Cushman & Wakefield.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $40,300,000
  • Square Footage: 109,219
  • Price per Square Foot: $369
  • Address: 7700 S. 59th Ave, Laveen Village, AZ
  • Market: Laveen Village, AZ

The sale of the retail property at 7700 S. 59th Ave involved the collaboration of Ryan Schubert and Michael Hackett of Cushman & Wakefield as representatives for the buyer and seller, respectively. They played a crucial role in facilitating the transaction and ensuring a successful deal for both parties.

Players

Michael Hackett

CBRE

Broker

$271.5M

vol

12 deals

Broker

Phoenix 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

0.39%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93