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1272-1274 Center Ct Dr Covi...

Lee & Associates Brokers Finalize $4M Sale Of Royale Oak Office Park In Covina, California
SOLDOffice

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

Jamie Harrison

Lee & Associates

Broker

$18.5M

vol

5 deals

Broker

Los Angeles 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

3.97%

Cash-on-Cash

-1.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93