Oberlin Realty Acquires Office Property In Sorrento Mesa, San Diego For $5.3M
10179 Huennekens St, San Diego, CA 92121, USA
$5,300,000
$249/SF
Building Size
21,278 SF
Asset Type
Office
Closing
May 4, 2020
AI
The office property located at 10179 Huennekens St in Sorrento Mesa, San Diego has been sold in a closed transaction. The property, comprising 21,278 square feet, was purchased by Oberlin Realty from Pangea Properties for a price of $5,300,000. The sale price translates to a price per square foot of $249.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $5,300,000
- Address: 10179 Huennekens St
- Market: Sorrento Mesa, San Diego
- Buyer: Oberlin Realty
- Seller: Pangea Properties
- Brokers: Brant Aberg & Ryan Downing - Cushman & Wakefield
- Square Footage: 21,278
- Price per Square Foot: $249
The transaction was facilitated by the brokers Brant Aberg and Ryan Downing from Cushman & Wakefield. Their representation was instrumental in bringing together the buyer, Oberlin Realty, and the seller, Pangea Properties, to complete the sale of this office property in Sorrento Mesa.
Players
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
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93