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The Brooklyn Companies Acquires Office Property In Garden Grove For $14M

Property Image
SOLD
$14,000,000
Jason Roth
Paul Jones
+ 3

California

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Office45,451 SF
Sold 08/24/2022
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Property Image
SOLD

The Brooklyn Companies Acquires Office Property In Garden Grove For $14M

12951 Euclid Street

See Similar Deals
Office45,451 SF
Sold 08/24/2022
Jason Roth
Paul Jones
+ 3
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$308
Total Square Footage:45,451 SF
Transaction Type:Sale

The sale of an office property located at 12951 Euclid St in Garden Grove has been finalized. The property spans a total area of 45,451 square feet and was sold for $14,000,000, resulting in a price per square foot of $308. The transaction took place on August 24, 2022.

Summary of transaction details

The buyer of the property was represented by Norman Lee from Newmark, while the seller was represented by Sean Fulp, Mark Schuessler, Ryan Plummer, and Paul Jones, also from Newmark. Jason Roth, also from Newmark, acted as the mortgage broker for the transaction.

Players

Mark Schuessler
37 deals$1.3B volume
BROKER

Paul Jones
Newmark
26 deals$1.3B volume
BROKER

Ryan Plummer
Newmark
46 deals$1.1B volume(310) 407-6570
BROKER

Sean Fulp
Colliers
55 deals$1.9B volume
BROKER

Jason Roth
Colliers
8 deals$149.3M volume(978) 460-3070
BROKER

Norman Lee
Newmark
1 deal$14M volume
BROKER

Details

SOLD
IMAGE: Jason Roth, Mark Schuessler, Norman Lee, Sean Fulp, Paul Jones & Ryan Plummer DATE: 08/24/2022 ADDRESS: 12951 Euclid St MARKET: Garden Grove ASSET TYPE: Office BUYER: The Brooklyn Companies SELLER: Pacific Development Partners BUYER'S REP: Norman Lee - Newmark SELLER'S REP: Sean Fulp (@SeanaFulp), Mark Schuessler (@MarkSchuess), Ryan Plummer & Paul Jones - (@DataToDeals) - Newmark MORTGAGE BROKER: Jason Roth - Newmark SALE PRICE: $14,000,000 SF: 45,451 ~ PPSF: $308

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

$746,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,739.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$66,367.14
Annual Debt Service$796,405.71