Rhodium Capital Advisors Acquires Office Property In Mesa For $5.8M
SOLD
$5,800,000
Washington
See Similar DealsOffice107,000 SF
SOLD
Rhodium Capital Advisors Acquires Office Property In Mesa For $5.8M
100 Franklin Square Dr, Franklin Town...
See Similar DealsOffice107,000 SF
Summary
WASHINGTON
Asset Type:Office
Price Per Square Foot:$54
Total Square Footage:107,000 SF
Transaction Type:Sale
An office building located at 100 Franklin Square Drive in Somerset has been acquired by Rhodium Capital Advisors for $5.8 million. The 107,000-square-foot building is occupied by a mix of healthcare, education, insurance, technology, and legal firms. Rhodium plans to spend $2.4 million for tenant improvements and leasing commissions for existing and new tenants, as well as $350,000 on building-wide capital improvements.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,800,000.00
- Market: Mesa
- Buyer: Rhodium Capital Advisors
- SF: 107,000
Slava Vaynberg of Cushman & Wakefield represented Rhodium in the acquisition. Sol Kinraich and Ryan Goldstein of MLK Real Estate Capital arranged the debt financing, while Jeffrey Zwick & Associates acted as Rhodium’s legal counsel.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$309,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,606.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,494.96
Annual Debt Service$329,939.51
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