Buck Design Acquires Downtown Los Angeles Office Building For $26.5M
SOLD
$26,540,000
+ 4
California
See Similar DealsOffice79,242 SF
Sold 02/02/2022
SOLD
Buck Design Acquires Downtown Los Angeles Office Building For $26.5M
120 S San Pedro St, Los Angeles, CA 90012
See Similar DealsOffice79,242 SF
Sold 02/02/2022
+ 4
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$334
Total Square Footage:79,242 SF
Transaction Type:Sale
The recently closed transaction in Downtown Los Angeles involved the sale of an office property located at 120 S. San Pedro St. The property spans an area of 79,242 square feet and was sold for a total price of $26,540,000, resulting in a price per square foot of $334.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $26,540,000
- Address: 120 S. San Pedro St.
- Market: Downtown Los Angeles
The buyer in this transaction was Buck Design, while the seller was Brickstar Capital. Representing the buyer were Jack Cline, Evan Jurgensen, and Doug Cline from Lee & Associates. On the seller's side, Taylor Watson, Brad Chelf, Phillip Sample, and Chris Caras from CBRE served as the representatives.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,415,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$94,291.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$125,813.14
Annual Debt Service$1,509,757.68
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