Updated Oct 28, 2024
South Bay Development Acquires Office Portfolio In San Jose For $58M With Synaptics As Seller
1140 Ringwood Court, San Jose, California 95131, United States
$58,000,000
$250/SF
Building Size
231,700 SF
Asset Type
Office
Closing
Feb 13, 2022
About this deal
AI
The office property located at 1140 & 1150 Ringwood Court & 1109, 1151 & 1251 McKay Drive in San Jose has been sold. The transaction took place on 02/14/2022.
Summary of transaction details
- Property Type: Office
- Sale Price: $58,000,000
- Square Footage: 231,700
- Price per Square Foot: $250
- Address: 1140 & 1150 Ringwood Court & 1109, 1151 & 1251 McKay Drive, San Jose
- Market: San Jose
The buyer of the property is South Bay Development, represented by Jim Mair. The seller is Synaptics.
On the Map
$58,000,000
$250/SF
Office
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Players
San Jose 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93