Updated Oct 29, 2024
SJ4 Burbank Acquires Development Site In Burbank For $40M
777 N Front St, Burbank, CA 91502, USA
$40,000,000
$11/SF
Building Size
3,484,800 SF
Asset Type
Development Site
Closing
Jun 1, 2020
About this deal
AI
A development site located at 777 North Front St in Burbank has been sold for a total price of $40,000,000. The property spans a total of 348,480 square feet with a price per square foot of $114. This site has the potential to accommodate up to 550 units.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $40,000,000
- BSF: 348,480
- PPBSF: $114
- Units: 550
The buyer of this development site is SJ4 Burbank, while the seller is Northridge Properties. The transaction was facilitated by the brokers Brett Warner, Hunter Warner, Jim Fisher, and Mike Smith from Lee & Associates.
On the Map
$40,000,000
$11/SF
Development Site
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Players
Burbank Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93