Cohen Asset Management Investors Acquires Avondale, AZ Industrial Property For $71M
SOLD
$71,000,000
+ 2
Texas
See Similar DealsIndustrial405,656 SF
Sold 01/05/2022
SOLD
Cohen Asset Management Investors Acquires Avondale, AZ Industrial Property For $71M
NEC McDowell Rd and 107th Ave, Avondale, AZ 85392
See Similar DealsIndustrial405,656 SF
Sold 01/05/2022
+ 2
Summary
TEXAS
Asset Type:Industrial
Price Per Square Foot:$175
Total Square Footage:405,656 SF
Transaction Type:Sale
The industrial property located at the NEC of 107th Ave & Pierce Street in Avondale, AZ has been sold for a price of $71,000,000. The property spans a total area of 405,656 square feet, resulting in a price per square foot of $175.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $71,000,000
- Address: NEC of 107th Ave & Pierce Street, Avondale, AZ
- Market: Avondale, AZ
- Buyer: Cohen Asset Management Investors
- Seller: Eisenberg Co.
- Brokers: Will Strong, Kirk Kuller, Greer Oliver & Connor Nebeker-Hay - Cushman & Wakefield
The buyer, Cohen Asset Management Investors, completed the acquisition of this industrial property from the seller, Eisenberg Co., through the representation of brokers Will Strong, Kirk Kuller, Greer Oliver, and Connor Nebeker-Hay from Cushman & Wakefield. The sale of this property marks a significant transaction in the Avondale market, showcasing the continued interest in industrial assets within the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,786,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$252,248.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$336,576.22
Annual Debt Service$4,038,914.67
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