Updated Dec 4, 2024
The City Of Garden Grove Acquires Garden Grove Plaza Office Building For $12.12M
12966 Euclid Street
$12,120,000
$188/SF
Building Size
64,402 SF
Asset Type
Office
Closing
Dec 11, 2023
About this deal
AI
The City of Garden Grove has purchased the Garden Grove Plaza, a five-story office building located at 12966 Euclid Street in Garden Grove, CA. The strategic acquisition of this well-located asset next to City Hall will provide strong cash flow for the future. The sale, facilitated by CBRE's Investment Properties team, closed for a total of $12,120,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $12,120,000
- Square Footage: 64,402
- Price per Square Foot: $188
- Address: 12966 Euclid Street, Garden Grove, CA
- Market: Garden Grove
CBRE's brokers Anthony DeLorenzo, Bryan Johnson, Nick Williams, and Peter Wells represented the City of Garden Grove in the transaction. Their expertise and guidance ensured a successful sale of the Garden Grove Plaza.
On the Map
$12,120,000
$188/SF
Office
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Garden Grove 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
1.31%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93