Updated Dec 14, 2024
Cohen Asset Management Investors Acquires Avondale, AZ Industrial Property For $71M
NEC McDowell Rd and 107th Ave, Avondale, AZ 85392
$71,000,000
$175/SF
Building Size
405,656 SF
Asset Type
Industrial
Closing
Jan 5, 2022
About this deal
AI
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.
On the Map
$71,000,000
$175/SF
Industrial
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Players
Fort Worth Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93