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111 N Market St San Jose, C...

Metropolis Dermatology Leases 6,881 Sq. Ft. Office Space In Downtown San Jose
LEASEDOffice

Metropolis Dermatology Leases 6,881 Sq. Ft. Office Space In Downtown San Jose

111 N Market St San Jose, CA 95113, USA

$4

$4/SF

Building Size

6,881 SF

Asset Type

Office

Closing

May 9, 2023

AI

Metropolis Dermatology has signed a lease for a 6,881 sq. ft. space at 111 North Market Street in San Jose, California. This marks the dermatology group's first location in the San Francisco Bay Area. The Class A property is located in downtown San Jose and is set to be occupied by Metropolis Dermatology in January 2024. The lease was facilitated by Rubicon Point Partners, represented by Annie Doud, and the tenant was represented by Greg Houser of CARR.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Lease
  • Address: 111 North Market Street, San Jose, California
  • Market: San Jose
  • Landlord: Rubicon Point Partners (Annie Doud)
  • Tenant: Metropolis Dermatology
  • Landlord's Representative: Matt Taylor - CBRE
  • Tenant's Representative: Greg Houser - CARR
  • Asking Rent: $4.65/ft. ~ SF: 6,881

Metropolis Dermatology's entry into the San Francisco Bay Area with its new location on North Market Street signifies the group's expansion beyond its Southern California base. The office space at 111 North Market Street offers a high-quality environment suitable for the dermatology practice's needs. The lease agreement was facilitated by Rubicon Point Partners, with Annie Doud representing the landlord's interests. Metropolis Dermatology was represented by Greg Houser of CARR, ensuring a smooth transaction for both parties involved.

Players

Matt Taylor

CBRE

Broker

$123M

vol

2 deals

Broker
RP
Rubicon Point PartnersLandlord

Los Angeles Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3965750.00%

Cash-on-Cash

-1133423.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93