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John Cary Of Eames Institute Acquires Former Birkenstock Campus In Novato For $36M
SOLD
$36,000,000
California
See Similar DealsIndustrial
Sold 08/01/2025
SOLD
John Cary Of Eames Institute Acquires Former Birkenstock Campus In Novato For $36M
8171 Redwood Boulevard
See Similar DealsIndustrial
Sold 08/01/2025
Summary
CALIFORNIA
Asset Type:Industrial
Transaction Type:Sale
The asset involved in this transaction is an 88.5-acre industrial property located at 8171 Redwood Boulevard in Novato. The sale price for this property was $36,000,000. This site was formerly the Birkenstock campus and is set to be repurposed as a new home for the Eames Institute, an organization known for its focus on design and innovation.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $36,000,000
- Buyer: John Cary - Eames Institute
- Market: Novato
- Acres: 88.5
The Eames Institute, represented by John Cary in this transaction, has acquired a significant property in Marin County, marking one of the largest commercial deals this year. The purpose of the acquisition is to facilitate a new location that will support the institute's mission and activities.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,920,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40
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