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

Property Image
SOLD
$37,400,000
Todd Tydlaska
Sean Sullivan
Michael (Mike) Longo

California

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Office95,000 SF
Sold 09/08/2021
the dealplayerscompscontact
Property Image
SOLD

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

2130 North Hollywood Way, Burbank, CA 91505

See Similar Deals
Office95,000 SF
Sold 09/08/2021
Todd Tydlaska
Sean Sullivan
Michael (Mike) Longo
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$393
Total Square Footage:95,000 SF
Transaction Type:Sale

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 (Mike) Longo
CBRE
Michael Longo
31 deals$1.8B volume(310) 363-4906
BROKER
Todd Tydlaska
Colliers
Todd Tydlaska
29 deals$1.8B volume
BROKER
Sean Sullivan
CBRE
Sean Sullivan
25 deals$1.1B volume
BROKER
SP
Strategic Office Partners
SELLER

Details

SOLD
IMAGE: Mike Longo, Todd Tydlaska & Sean Sullivan DATE: 09/08/2021 ADDRESS: 2130 North Hollywood Way MARKET: Burbank ASSET TYPE: Office ~ ACRES: 4.4 BUYER: Cruzan & Independencia Asset Management SELLER: Strategic Office Partners BROKER: Mike Longo, Todd Tydlaska & Sean Sullivan - CBRE SALE PRICE: $37,400,000 SF: 95,000 ~ PPSF: $395

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,994,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$132,874.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$177,295.08
Annual Debt Service$2,127,540.97