Lee & Associates Brokers Finalize $4M Sale Of Royale Oak Office Park In Covina, California
1272-1274 Center Ct Dr Covina, CA 91724, USA
$4,000,000
$207/SF
Building Size
19,300 SF
Asset Type
Office
Closing
Jun 21, 2023
AI
The $4 million sale of Royale Oak Office Park, a three-building property in Covina, California, has been finalized by Lee & Associates. The property, located at 1272-1274 Center Court Drive, spans a total of 25,991 sq ft, with 8,998 sq ft being leased by an anchor tenant. The buyers have plans to upgrade the property and secure tenants for lease renewals. Situated in close proximity to the San Bernardino (10) Freeway, the property also offers easy access to various amenities such as a restaurant, hotel, and shops.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,000,000
- Market: Covina
- Address: 1272-1274 Center Court Drive
- Square Footage: 25,991 sq ft
- Brokers: Jamie Harrison & Christopher Larimore - Lee & Associates
- Anchor Tenant: Leased 8,998 sq ft
Lee & Associates played a key role in facilitating the sale of Royale Oak Office Park. With their expertise, the buyers were able to secure the property and plan for future upgrades and lease renewals. The property's convenient location near the San Bernardino (10) Freeway and various amenities adds to its appeal.
Players
Los Angeles Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93