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Lane Partners Acquires Office Complex In Sunnyvale For $104M

Property Image
SOLD
$104,000,000
Toss Vallentine
Michael Manas
+ 4

California

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Office313,740 SF
Sold 11/03/2020
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Property Image
SOLD

Lane Partners Acquires Office Complex In Sunnyvale For $104M

1230 E Arques Ave, Sunnyvale, CA, USA

See Similar Deals
Office313,740 SF
Sold 11/03/2020
Toss Vallentine
Michael Manas
+ 4
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$331
Total Square Footage:313,740 SF
Transaction Type:Sale

Located in Sunnyvale, the property at 1230, 1240, 1250, 1260, 1270 & 1280 East Arques Ave has been sold in a closed transaction. This office asset spans across 313,740 square feet and was sold for a price of $104,000,000, resulting in a price per square foot of $331.

Summary of transaction details

Represented by JLL, the deal involved various key individuals including brokers Jordan Angel, Will Connors, Daniel Renz, Michael Manas, Bart Lammersen, Kyle Caldwell, and Toss Vallentine. Lane Partners emerged as the buyer of this office property in Sunnyvale, while WJFS served as the seller. The transaction, which took place on 11/03/2020, marked the successful completion of the deal.

Players

Bart Lammersen
3 deals$104M volume
BROKER

Daniel (Dan) Renz
4 deals$298.8M volume
BROKER

Jordan Angel
JLL
8 deals$566M volume
BROKER

Kyle Caldwell
1 deal$104M volume
BROKER

Michael Manas
JLL
4 deals$298.8M volume
BROKER

Toss Vallentine
1 deal$104M volume
BROKER

Will Connors
JLL
4 deals$298.8M volume
BROKER

BUYER

Details

SOLD
IMAGE: Jordan Angel, Will Connors, Daniel Renz, Michael Manas, Bart Lammersen DATE: 11/03/2020 ADDRESS: 1230, 1240, 1250, 1260, 1270 & 1280 East Arques Ave MARKET: Sunnyvale ASSET TYPE: Office BUYER: Lane Partners SELLER: WJFS BROKERS: Jordan Angel, Will Connors, Daniel Renz, Michael Manas, Bart Lammersen, Kyle Caldwell & Toss Vallentine - JLL PRICE: $104,000,000 SF: 313,740 ~ PPSF: $331

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,546,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$369,490.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$493,013.06
Annual Debt Service$5,916,156.70