2900 Pershing LLC Acquires 5 Points Plaza Shopping Center In El Paso
2900 Pershing Drive
Building Size
23,300 SF
Asset Type
Retail
Closing
Dec 18, 2023
About this deal
AI
CBRE has brokered the sale of the 23,300-square-foot 5 Points Plaza Shopping Center located at 2900 Pershing Drive in El Paso. The property, which had been vacant for two decades, underwent recent renovations. The buyer, 2900 Pershing LLC, intends to feature Morra Mia restaurant as the anchor tenant in the second quarter of next year.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 2900 Pershing Drive
- Market: El Paso
- Size: 23,300 square feet
- Buyer: 2900 Pershing LLC
- Broker: Rebecca Rojas - CBRE
Rebecca Rojas, from CBRE, represented the buyer in this transaction.
Players
El Paso Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Deal FAQ
Browse El Paso retail sales on Traded.
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