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10180 Barnes Canyon Rd, San...

Longfellow Real Estate Partners Acquires Sorrento Mesa Office For $39M
SOLDOffice

Longfellow Real Estate Partners Acquires Sorrento Mesa Office For $39M

10180 Barnes Canyon Rd, San Diego, CA 92121, USA

$39,000,000

$41/SF

Building Size

934,800 SF

Asset Type

Office

Closing

May 20, 2020

AI

The property involved in the closed transaction is an office asset located at 10070, 10140, and 10180 Barnes Canyon Rd in Sorrento Mesa, San Diego. The property spans a total area of 93,480 square feet and was sold for a price of $39,000,000. The price per square foot for this transaction amounts to $417.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $39,000,000
  • Address: 10070, 10140, 10180 Barnes Canyon Rd
  • Market: Sorrento Mesa, San Diego
  • Square Footage: 93,480
  • Price per Square Foot: $417

The buyer in this transaction is Longfellow Real Estate Partners, while the seller is BLT Enterprises represented by Bernard Huberman. The brokerage team involved in this deal includes Ron Jacobson from SD Realty Partners, and Rick Reeder & Brad Tecca.

Players

Ron Jacobson

Broker

$39M

vol

1 deal

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
BLT Enterprises
BLT EnterprisesSeller

San Diego Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.41%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93