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Mike Field Of Mecah Ventures And Robert Wheatley Of Wheatley Properties Acquire Palo Alto Office For $6.8M
SOLD
$6,800,000
California
See Similar DealsOffice33,638 SF
Sold 07/09/2025
SOLD
Mike Field Of Mecah Ventures And Robert Wheatley Of Wheatley Properties Acquire Palo Alto Office For $6.8M
1870 Embarcadero Road
See Similar DealsOffice33,638 SF
Sold 07/09/2025
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$202
Total Square Footage:33,638 SF
Transaction Type:Sale
Mecah Ventures and Wheatley Properties acquired a 33,638-square-foot Class A office building located at 1870 Embarcadero Road in Palo Alto for $6.8 million. The property will be repositioned as Office/R&D space with upgraded power infrastructure.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,800,000
- Square Footage: 33,638
- Price Per Square Foot: $202
- Buyer: Mike Field - Mecah Ventures
- Buyer: Robert Wheatley - Wheatley Properties
- Market: Palo Alto
- Address: 1870 Embarcadero Road
The acquisition was facilitated by the collaboration of Mike Field and Robert Wheatley, both of whom play significant roles in their respective companies focused on the development and management of commercial properties.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$362,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,158.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,235.47
Annual Debt Service$386,825.63
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