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2450 West Birchwood Avenue

Updated Dec 4, 2024

Bendetti And Westport Capital Partners Acquire Industrial Asset In Mesa For $32.9M
SOLDIndustrial

Bendetti And Westport Capital Partners Acquire Industrial Asset In Mesa For $32.9M

2450 West Birchwood Avenue & 2452 West Birchwood Avenue

$32,900,000

$105/SF

Building Size

156,000 SF

Asset Type

Industrial

Closing

Jun 18, 2024

About this deal

AI

The 156,000-square-foot Broadwood Business Centre located at 2450-2452 West Birchwood Avenue in Mesa, AZ was sold for $32.9 million. The property was fully leased to various tenants and was acquired by BKM Capital Partners in 2020 for $18.4 million. The sale was facilitated by Cushman & Wakefield's team, which included brokers Michael Matchett, Molly Hunt, Robert Buckley, Tracy Cartledge, and Will Strong. The transaction also involved an $18 million loan from Grant Street Funding.

Summary of transaction details:

The sale of the Broadwood Business Centre in Mesa involved an acquisition by Bendetti and Westport Capital Partners from BKM Capital Partners. The loan for the transaction was provided by Grant Street Funding. This deal highlights the active participation of key individuals and companies contributing to successful commercial real estate transactions in Mesa, AZ.

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$32,900,000

$105/SF

Industrial

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Players

Will Strong

Cushman & Wakefield

Broker

$3.3B

vol

60 deals

Broker
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Chicago Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $105 per square foot on a published $32.9M for 312,000 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.48%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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