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Gregg Walker Of DivcoWest Acquires 1991 Broadway Office Building In Redwood City For $32M
SOLD
$32,000,000
California
See Similar DealsOffice66,000 SF
Sold 12/22/2025
SOLD
Gregg Walker Of DivcoWest Acquires 1991 Broadway Office Building In Redwood City For $32M
1991 Broadway
See Similar DealsOffice66,000 SF
Sold 12/22/2025
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$484
Total Square Footage:66,000 SF
Transaction Type:Sale
1991 Broadway is a three-story boutique office building located in Redwood City, California. The property encompasses 66,000 square feet and was sold for approximately $32 million, equating to a price per square foot of $485.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $32,000,000
- Address: 1991 Broadway
- Market: Redwood City
- Square Footage: 66,000
- Price Per Square Foot: $485
- Buyer: Gregg Walker - DivcoWest
DivcoWest, a subsidiary of DivCore Capital, secured a 45,000-square-foot lease with law firm Paul Hastings at the property as part of this transaction.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,706,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$113,689.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$151,696.33
Annual Debt Service$1,820,355.91
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