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2130 North Hollywood Way, B...

Cruzan & Independencia Asset Management Acquires Office In Burbank For $37.4M
SOLDOffice

Cruzan & Independencia Asset Management Acquires Office In Burbank For $37.4M

2130 North Hollywood Way, Burbank, CA 91505

$37,400,000

$393/SF

Building Size

95,000 SF

Asset Type

Office

Closing

Sep 8, 2021

AI

The recently sold property is located at 2130 North Hollywood Way in Burbank. It is an office asset with a total area of 4.4 acres. The transaction took place on September 8, 2021.

Summary of transaction details:

  • Property Type: Office
  • Sale Price: $37,400,000
  • Square Footage: 95,000
  • Price per Square Foot: $395
  • Address: 2130 North Hollywood Way, Burbank
  • Market: Burbank

The buyer of the property is Cruzan & Independencia Asset Management, while the seller is Strategic Office Partners. The deal was facilitated by Mike Longo, Todd Tydlaska, and Sean Sullivan of CBRE.

Players

Michael Longo

CBRE

Broker

$1.9B

vol

32 deals

Broker
SP
Strategic Office PartnersSeller

Burbank 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

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93