Updated Oct 29, 2024
LBA Logistics Acquires Commercial Property From Institutional Property Advisors In San Diego Transaction
5959 Santa Fe St, San Diego, CA, 92109
$46,300,000
$352/SF
Building Size
131,299 SF
Asset Type
Commercial
Closing
Nov 22, 2023
About this deal
AI
The commercial property located at 5959 Santa Fe Street in San Diego, CA, 92109, was recently sold in a transaction amounting to $46,300,000.00. The asset, a coastal distribution facility situated in the submarket of Pacific Beach and Rose Canyon, spans 131,299 square feet and sits on 7.1 acres of land.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: $46,300,000.00
- Market: San Diego
- Seller's Rep: Sean Williams (Institutional Property Advisors)
- Buyer: LBA Logistics
- SF: 131299
The deal was facilitated by Matt Carlson, Hunter Rowe, Roger Carlson, Barbara Perrier, and Joe Cesta of CBRE, who represented the undisclosed seller in the sale of the property to LBA Logistics, in what was a sale-leaseback transaction.
On the Map
$46,300,000
$352/SF
Commercial
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San Diego Commercial Market Snapshot
Boundary boundary · Commercial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93