Michael Rosenfeld Of Woodridge Capital Purchases Office Property In Sausalito For $32M

Woodridge Capital has acquired an office property located at 1 Harbor Drive in Sausalito, California. The property spans 112,343 square feet and is situated on a 6.3-acre site. The acquisition was completed for a total sale price of $32,000,000, which translates to $285 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $32,000,000
• Buyer: Michael Rosenfeld - Woodridge Capital
• Seller: Wick Polite - Seagate Properties
• Lender: Realty Center Management
• Acquisition Loan Amount: $21,500,000
• Square Footage: 112,343
• Location: 1 Harbor Drive, Sausalito

Michael Rosenfeld represented Woodridge Capital in the acquisition of The Harbors, while Wick Polite represented Seagate Properties in the sale. Seagate Properties had previously acquired the asset in 2019 for $52,700,000, indicating ongoing adjustments in the Bay Area office property market.