Arroyo Parkway Acquires Commercial Property In Pasadena For $100M
SOLD
$100,000,000
California
See Similar DealsCommercial80,000 SF
Sold 05/06/2019
SOLD
Arroyo Parkway Acquires Commercial Property In Pasadena For $100M
577 South Arroyo Parkway, Pasadena, CA, USA
See Similar DealsCommercial80,000 SF
Sold 05/06/2019
Summary
CALIFORNIA
Asset Type:Commercial
Price Per Square Foot:$1,250
Total Square Footage:80,000 SF
Transaction Type:Sale
The commercial property located at 465-577 Arroyo Pkwy in Pasadena was recently sold for a total price of $100 million. The property, which spans 80,000 square feet, was sold at a price of $1,250 per square foot.
Summary of transaction details
- Property Type: Commercial
- Transaction Amount: $100M
- Price per Square Foot: $1,250
- Address: 465-577 Arroyo Pkwy, Pasadena
- Market: Pasadena
The buyer of the property is Arroyo Parkway. The deal was facilitated by David Ickovics from Commercial Asset Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,333,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$355,278.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$474,051.02
Annual Debt Service$5,688,612.21
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