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Penske Acquires 2.4 Acre Land In San Leandro, CA For $70M

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SOLD
$70,000,000

California

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Sold 10/10/2022
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SOLD

Penske Acquires 2.4 Acre Land In San Leandro, CA For $70M

635 Marina Boulevard, San Leandro, California 94577, United States

See Similar Deals
Sold 10/10/2022
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Summary

CALIFORNIA
Transaction Type:Sale

Roger Penske has recently made a significant land acquisition in San Leandro, CA. Located at 635 Marina Boulevard, the property spans across 2.4 acres. This prime piece of land has attracted a lot of attention in the market.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $70,000,000
  • Date: 10/10/2022
  • Address: 635 Marina Boulevard, San Leandro, CA
  • Market: San Leandro, CA
  • Buyer: Penske - Roger Penske
  • Seller: Zelig

Roger Penske, a well-known figure in the industry, finalized the purchase of this valuable asset. The deal was facilitated by Penske's representative, ensuring a smooth transaction between the buyer and seller.

Players

2 deals$85.4M volume
BUYER

Details

SOLD
IMAGE: Roger Penske DATE: 10/10/2022 ADDRESS: 635 Marina Boulevard MARKET: San Leandro, CA ASSET TYPE: Land ~ ACRES: 2.4 BUYER: Penske (@Team_Penske) - Roger Penske SELLER: Zelig SALE PRICE: $70,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,733,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$248,695.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$331,835.71
Annual Debt Service$3,982,028.55