Harbor Associates Acquires Carlsbad Office Buildings For $34.2M
SOLD
$34,200,000
+ 1
California
See Similar DealsOffice177,917 SF
Sold 03/10/2020
SOLD
Harbor Associates Acquires Carlsbad Office Buildings For $34.2M
1917 Palomar Oaks Way, Carlsbad, CA, USA
See Similar DealsOffice177,917 SF
Sold 03/10/2020
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$192
Total Square Footage:177,917 SF
Transaction Type:Sale
Harbor Associates has acquired an office asset located at 1900, 1902, 1903 Wright Place, and 1917 Palomar Oaks Way in Carlsbad. The property spans 177,917 square feet and was sold for a total of $34,200,000. This translates to a price per square foot of $192. The transaction took place on 03/10/2020.
Summary of transation details
- Property Type: Office
- Transaction Amount: $34,200,000
- Square Footage: 177,917
- Price per Square Foot: $192
The buyer, Harbor Associates, acquired the property from the seller, Wasatch Global Investors. The deal was brokered by Rick Reeder, Brad Tecca, Matty Sundberg, and Justin Halenza from Cushman & Wakefield.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,824,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$121,505.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$162,125.45
Annual Debt Service$1,945,505.38
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