Updated Dec 4, 2024
Bridge Group Investments Acquires Office Building In San Jose For $34.2M
111 North Market Street & 111 West Saint John Street
$34,200,000
$52/SF
Building Size
323,552 SF
Asset Type
Office
Closing
Feb 29, 2024
About this deal
AI
Located at 111 North Market Street & 111 West Saint John Street in San Jose, the office property was sold for $34,200,000. The total square footage of the asset is 323,552, resulting in a price per square foot of $106.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $34,200,000
- Buyer: George Mersho - Bridge Group Investments, Bo Okoroji, Jason Jaffe, and Jack Steger - Steerpoint Capital
- Seller: Rubicon
- Transaction Advisors: Bo Okoroji, Jason Jaffe, and Jack Steger - Steerpoint Capital
George Mersho of Bridge Group Investments, along with Bo Okoroji, Jason Jaffe, and Jack Steger of Steerpoint Capital, were the key individuals involved in the transaction as buyers. This deal showcases the collaboration between different entities in the real estate market.
Players
San Jose Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Bo Okoroji to view all their deals.
Browse San Jose office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93