MP Biomedicals LLC Acquires Property At 6 Thomas Irvine For $11 Million With Seller's Rep Chip Wright
SOLD
$11,000,000
California
See Similar DealsLife Sciences
SOLD
MP Biomedicals LLC Acquires Property At 6 Thomas Irvine For $11 Million With Seller's Rep Chip Wright
6 Thomas, Irvine, CA, 92618
See Similar DealsLife Sciences
Summary
CALIFORNIA
Asset Type:Life Sciences
Transaction Type:Sale
The property involved in this transaction is a life sciences facility located at 6 Thomas, Irvine, CA, within the Irvine Spectrum Center neighborhood. The building was sold for $11,000,000 and spans 28,835 square feet situated on approximately 1.5 acres. Originally a light manufacturing property, it was converted to a lab in 2005. The previous tenants included Eagle Pharmaceuticals, Enevate Corp., BIT Group, and Planet Innovation.
Summary of transaction details:
- Property Type: Life Sciences Facility
- Transaction Amount: $11,000,000
- Address: 6 Thomas, Irvine, CA, 92618
- Market: Irvine
- Square Footage: 28,835
- Seller's Representatives: Chip Wright, Ross Bourne - CBRE
- Buyer: MP Biomedicals LLC
In this transaction, Chip Wright and Ross Bourne of CBRE represented the undisclosed seller. The deal reflects a strategic acquisition by MP Biomedicals LLC, a company prominent in the life sciences sector.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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