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Milan Capital Management Acquires Office Property In La Mirada For $13.64M

Property Image
SOLD
$13,640,000
Gary Stache
Doug Mack
+ 1

California

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Office84,000 SF
Sold
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Property Image
SOLD

Milan Capital Management Acquires Office Property In La Mirada For $13.64M

16700 Valley View Avenue, Mirada, L A, CA, USA

See Similar Deals
Office84,000 SF
Sold
Gary Stache
Doug Mack
+ 1
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$162
Total Square Footage:84,000 SF
Transaction Type:Sale

A 84,000 square foot office property located at 16700 Valley View in La Mirada, was recently sold for $13.64 million. The transaction took place on March 14, 2019. Milan Capital Management purchased the property from Saunders Property Company. The deal was facilitated by brokers Gary Stache, Anthony DeLorenzo, Mark Shaffer, Rickey Warner, and Doug Mack from CBRE. The price per square foot for the office space was $162.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $13.64M
  • Address: 16700 Valley View, La Mirada
  • Market: La Mirada

Doug Mack and Anthony DeLorenzo shared an image of the property on Instagram, giving a visual insight into the office building. Milan Capital Management, led by their representative at CBRE, finalized the purchase from Saunders Property Company. The deal showcases the collaborative effort of brokers Gary Stache, Anthony DeLorenzo, Mark Shaffer, Rickey Warner, and Doug Mack from CBRE in successfully closing the transaction at a price of $13.64 million.

Players

Doug Mack
20 deals$251.1M volume
BROKER

Gary Stache
CBRE
33 deals$481.9M volume
BROKER

Anthony DeLorenzo
CBRE
116 deals$2B volume
BROKER

Mark Shaffer
CBRE
38 deals$708.8M volume
BROKER

BUYER

Details

SOLD
IMAGE: Doug Mack & Anthony DeLorenzo DATE: 03/14/2019 ADDRESS: 16700 Valley View MARKET: La Mirada ASSET TYPE: Office BUYER: Milan Capital Management SELLER: Saunders Property Company BROKERS: Gary Stache, Anthony DeLorenzo, Mark Shaffer, Rickey Warner and Doug Mack @CBRE PRICE: $13.64M SF: 84K ~ PPSF: $162

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$48,460.05
Cash-on-Cash Return-1.27%
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