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
San Francisco Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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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