2 North Lake JV LLC Sells Office Asset In Pasadena For $80M With Brokers Mike Condon Jr., Erica Finck, Bailey Dawson & Marc Renard - Cushman & Wakefield
2 N Lake Ave, Pasadena, CA, USA
$80,000,000
$330/SF
Building Size
242,012 SF
Asset Type
Office
Closing
Aug 23, 2020
AI
Located in Pasadena, the property at 2 N. Lake has been sold in a recent transaction. The office asset spans approximately 242,012 square feet and is situated in the bustling Pasadena market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $80,000,000
- Sale Price per Square Foot: $330
- Seller: 2 North Lake JV LLC
- Brokers: Mike Condon Jr., Erica Finck, Bailey Dawson & Marc Renard - Cushman & Wakefield
The sale of 2 N. Lake in Pasadena was facilitated by a team of brokers from Cushman & Wakefield, including Mike Condon Jr., Erica Finck, Bailey Dawson, and Marc Renard. These individuals played a crucial role in representing the seller, 2 North Lake JV LLC, throughout the transaction.
Players
Pasadena Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93