Nuveen Acquires Office Building In Glendale For $53.5M
SOLD
$53,500,000
California
See Similar DealsOffice66,700 SF
Sold 04/05/2021
SOLD
Nuveen Acquires Office Building In Glendale For $53.5M
1840 Victory Boulevard
See Similar DealsOffice66,700 SF
Sold 04/05/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$802
Total Square Footage:66,700 SF
Transaction Type:Sale
An office property located at 1840 Victory Boulevard in Glendale has been sold for a price of $53,500,000. The transaction took place on April 5, 2021. The property spans over an area of 66,700 square feet, resulting in a price per square foot of $815.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $53,500,000
- Address: 1840 Victory Boulevard
- Market: Glendale
The buyer of the property is Nuveen, represented by Jose Minaya, Joe Castro & Bradley Finkle. Eastdil Secured served as the broker for the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,853,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$190,074.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$253,617.29
Annual Debt Service$3,043,407.53
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