Slate Grocery REIT Acquires Property At 4578 Centerplace Dr In Greeley With Drew Isaacson As Seller's Rep
4578 Centerplace Dr, Greeley, CO, 80...
Building Size
152,000 SF
Asset Type
Other
Closing
Nov 19, 2023
About this deal
AI
The transaction involved the sale of Centerplace of Greeley, a shopping center located at 4578 Centerplace Dr, Greeley, CO, with a total area of 152,000 square feet. The property is situated in the Greeley market and features a variety of tenants including Safeway, Ross Dress for Less, Famous Footwear, Buckle, Bath & Body Works, Cold Stone Creamery, Bank of America, Sally Beauty, Tokyo Joe’s, and Heartland Dental.
Summary of transation details:
- Property Type: Shopping Center
- Transaction Amount: Undisclosed
- Address: 4578 Centerplace Dr, Greeley, CO
- Market: Greeley
- Seller's Representative: Ryan Bowlby & Drew Isaacson - Institutional Property Advisors
- Buyer: Slate Grocery REIT
- Square Footage: 152,000
Ryan Bowlby and Drew Isaacson of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller in the deal and also procured the buyer, Slate Grocery REIT, marking a significant transaction in the local real estate market.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93