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
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