Montecito Medical Real Estate Acquires Office In Avondale From MCR Companies For $16M
13028 W Rancho Santa Fe Blvd
$16,000,000
$551/SF
Building Size
29,017 SF
Asset Type
Office
Closing
Apr 8, 2025
AI
The property asset involved in this transaction is an office space located at 13028 W Rancho Santa Fe Blvd in the Avondale market. The sale was completed for a price of $16,000,000.00, encompassing a total square footage of 29,017.0.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,000,000.00
- Address: 13028 W Rancho Santa Fe Blvd
- Market: Avondale
- Square Footage: 29,017.0
- Buyer: Montecito Medical Real Estate
- Seller: MCR Companies
- Brokers: Michael Dupuy, Zack Harris (Kidder Mathews)
Montecito Medical Real Estate acted as the buyer in this transaction, while MCR Companies was the seller. The brokerage representation for the deal was provided by Michael Dupuy and Zack Harris from Kidder Mathews, highlighting the professional involvement in facilitating the transaction.
Players
Avondale Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93