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1595 Spruce St, Riverside, ...

Sale Of Riverside Property At 1595 Spruce St For $6 Million With CBRE As Seller's Representatives
SOLDOffice

Sale Of Riverside Property At 1595 Spruce St For $6 Million With CBRE As Seller's Representatives

1595 Spruce St, Riverside, CA, 92507

$6,000,000

$89/SF

Building Size

67,076 SF

Asset Type

Office

Closing

Aug 19, 2019

AI

An office building located at 1595 Spruce St, Riverside, CA, was sold for $6 million. The property spans 67,076 square feet and is situated in the Riverside market.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: $6,000,000.00
  • Address: 1595 Spruce St, Riverside, CA, 92507
  • Market: Riverside
  • Seller's Representatives: Doug Mack, Gary Stache (CBRE)
  • Buyer: Unknown

Northstar Commercial Partners completed this transaction, having originally acquired the property in 2015 as part of a larger portfolio. The representatives from CBRE involved in the deal included Gary Stache, Doug Mack, Vindar Batoosingh, and Phil Woodford.

Players

Doug Mack

CBRE

Broker

$251.1M

vol

20 deals

Broker

Riverside 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

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93