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1301 Shoreway Road, Belmont...

Four Corners Properties Acquires Office In Belmont For $90.2M
SOLDOffice

Four Corners Properties Acquires Office In Belmont For $90.2M

1301 Shoreway Road, Belmont, CA, USA

$90,200,000

$601/SF

Building Size

150,000 SF

Asset Type

Office

Closing

Dec 8, 2021

AI

A 150,000 square foot office building located at 1301 Shoreway Road in Belmont has been sold for $90,200,000. The property was purchased by Four Corners Properties from the seller, Westlake Group. The transaction was facilitated by brokers Mike Taquino, Kyle Kovac, Joe Moriarty, and Scott Prosser of CBRE Capital Markets.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $90,200,000
  • Address: 1301 Shoreway Road
  • Market: Belmont

The office building at 1301 Shoreway Road in Belmont was sold for $90,200,000. The buyer, Four Corners Properties, acquired the property from the seller, Westlake Group. The transaction was brokered by Mike Taquino, Kyle Kovac, Joe Moriarty, and Scott Prosser from CBRE Capital Markets.

Players

Joseph Moriarty

CBRE

Broker

$483.7M

vol

9 deals

Broker
FP
Four Corners PropertiesBuyer

Belmont 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

0.18%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93