Phillips Edison & Co. Acquires Apache Shoppes Retail Center In Rochester For $6.4M
$6,400,000
$150/SF
Building Size
42,450 SF
Asset Type
Retail
Closing
Nov 30, 2023
AI
Phillips Edison & Co. has acquired the Apache Shoppes retail center in southwest Rochester, MN for a sale price of $6,400,000. The property, located at US Highway 52 & US-14, consists of a 42,450 square foot retail space. The sale price per square foot is $151, reflecting the value of the transaction.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $6,400,000
- Address: US Highway 52 & US-14, Rochester, MN
- Market: Rochester, MN
- Buyer: Jeff Edison - Phillips Edison & Co.
- Seller: Mitchell A. Sabshon - Inland Real Estate Corp
- Square Footage: 42,450
- Price per Square Foot: $151
The buyer, Jeff Edison, represents Phillips Edison & Co. in the transaction. On the other hand, Mitchell A. Sabshon represents Inland Real Estate Corp as the seller. This acquisition includes the Apache Shoppes retail center, which features popular establishments such as Trader Joe's and Hot Chip.
Players
Market 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
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93