Drawbridge Realty Signs Long-Term Lease With ASML For 55,227 SF Office Space In San Diego
16707 Via Del Campo Court San Diego, California 92127, USA
Building Size
55,227 SF
Asset Type
Office
Closing
Aug 3, 2023
AI
Drawbridge Realty, a prominent real estate firm, has recently signed a long-term lease agreement with ASML, a leading semiconductor manufacturer. The lease covers a total area of 55,227 square feet and is for an office space located at 16707 Via Del Campo Court in San Diego. The property, known as Via Del Campo Court II, is a Class A office and research and development building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 16707 Via Del Campo Court, San Diego
- Market: San Diego
- Landlord: Drawbridge Realty - Michael Embree
- Tenant: ASML
- Brokers: Damon Melda, Jay Alexander & Tim Olson - JLL
This lease agreement marks a significant milestone as it is the first speculative construction project in Rancho Bernardo in over a decade. The office and R&D building are expected to be ready for occupancy this summer, providing ASML with a modern and state-of-the-art facility to carry out its semiconductor manufacturing activities.
Players
San Diego 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93