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Prime Enterprises Acquires 33.76-Acre Development Site In Fullerton, CA For $76.5M

Property Image
SOLD
$76,500,000
Brad Brandenburg
Rick Ellison
Nico Napolitano
+ 2

California

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Development Site405,130 SF
Sold 08/31/2023
the dealplayerscompscontact
Property Image
SOLD

Prime Enterprises Acquires 33.76-Acre Development Site In Fullerton, CA For $76.5M

1801 Hughes Dr Fullerton, CA 92833, USA

See Similar Deals
Development Site405,130 SF
Sold 08/31/2023
Brad Brandenburg
Rick Ellison
Nico Napolitano
+ 2
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$188
Total Square Footage:405,130 SF
Transaction Type:Sale

A development site located at 1801 Hughes Drive in Fullerton, CA has been sold for a price of $76,500,000. The property spans across 33.76 acres and offers a total square footage of 405,130. The sale price per square foot was $189. The transaction took place on August 31, 2023.

Summary of transaction details

The buyer of the property was Prime Enterprises. The transaction was facilitated by the brokers Nico Napolitano, Jeffrey Cole, Brad Brandenburg, Jeff Chiate, Rick Ellison, and Scott Selke from Cushman & Wakefield.

Players

Jeff Chiate
Cushman & Wakefield
Jeff Chiate
38 deals$2.7B volume
BROKER
Nico Napolitano
Cushman & Wakefield
Nico Napolitano
10 deals$408M volume
BROKER
Rick Ellison
Cushman & Wakefield
Rick Ellison
24 deals$1.4B volume
BROKER
Brad Brandenburg
Cushman & Wakefield
Brad Brandenburg
11 deals$934.6M volume
BROKER
Scott Selke
Cushman & Wakefield
Scott Selke
1 deal$76.5M volume
BROKER
PE
Prime Enterprises
BUYER

Details

SOLD
IMAGE: Jeffrey Cole, Nico Napolitano & Brad Brandenburg DATE: 08/31/2023 ADDRESS: 1801 Hughes Drive MARKET: Fullerton, CA ASSET TYPE: Development Site ~ ACRES: 33.76 BUYER: Prime Enterprises BROKERS: Nico Napolitano (@Niconapolitano), Jeffrey Cole, Brad Brandenburg (@Instaburg38), Jeff Chiate, Rick Ellison & Scott Selke - Cushman & Wakefield (@CushWake) SALE PRICE: $76,500,000 SF: 405,130 ~ PPSF: $189

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

$4,080,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$271,788.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$362,649.03
Annual Debt Service$4,351,788.34