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1270 Bush Street, San Franc...

Sterling Organization Acquires Industrial Property In San Francisco For $19.3M
SOLDIndustrial

Sterling Organization Acquires Industrial Property In San Francisco For $19.3M

1270 Bush Street, San Francisco, California 94109, United States

$19,300,000

$507/SF

Building Size

38,000 SF

Asset Type

Industrial

Closing

Jan 25, 2022

AI

The industrial property located at 1270 Bush Street in San Francisco has been sold in a recent transaction. The sale was facilitated by brokers Mark Geisreiter, Seth McKinnon, and Nadav Kariv from Newmark. The property spans approximately 38,000 square feet and was acquired by Sterling Organization from Paceline Investors. The sale price for the property amounted to $19,300,000, resulting in a price per square foot of $507.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $19,300,000
  • Address: 1270 Bush Street, San Francisco
  • Market: San Francisco
  • Buyer: Sterling Organization
  • Seller: Paceline Investors
  • Brokers: Mark Geisreiter, Seth McKinnon, and Nadav Kariv - Newmark
  • Square Footage: 38,000
  • Price per Square Foot: $507

The deal was finalized on 21st January 2022, marking a successful transaction in the San Francisco industrial market. The involvement of Sterling Organization as the buyer and Paceline Investors as the seller showcases the significance of these companies in the real estate sector.

Players

Mark Geisreiter

Newmark

Broker

$48.3M

vol

3 deals

Broker
Sterling Organization
Sterling OrganizationBrokerage
Sterling Organization
Sterling OrganizationBuyer

San Francisco Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.82%

Cash-on-Cash

-0.23%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93