Watermarke Properties Acquires Development Site In Orange For $22.5M
SOLD
$22,500,000
+ 3
California
See Similar DealsDevelopment Site148,054 SF
Sold 04/25/2023
SOLD
Watermarke Properties Acquires Development Site In Orange For $22.5M
625 The City Dr SOrange, CA 92868, USA
See Similar DealsDevelopment Site148,054 SF
Sold 04/25/2023
+ 3
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$152
Total Square Footage:148,054 SF
Transaction Type:Sale
Watermarke Properties has acquired a development site in Orange, located at 625 The City Drive South, for a total sale price of $22,500,000. The property spans a total of 148,054 square feet and has a price per square foot of $152. The seller of the property was TA Realty. The transaction was facilitated by Newmark, with Kevin Shannon, Paul Jones, Ken White, Chris Benton, Anthony Muhlstein, and Brandon White representing both the buyer and the seller.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $22,500,000
- Address: 625 The City Drive South, Orange
- Market: Orange
The acquisition of the development site by Watermarke Properties was facilitated by Kevin Shannon, Paul Jones, Ken White, Chris Benton, Anthony Muhlstein, and Brandon White of Newmark. This deal signifies the investment potential in the Orange market, highlighting the growing interest in development opportunities in the area.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,200,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$79,937.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$106,661.48
Annual Debt Service$1,279,937.75
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