Updated Oct 29, 2024
SteelWave Acquires El Segundo Office Building For $63.5M
2160 East Grand Avenue, El Segundo, CA, USA
$63,500,000
$417/SF
Building Size
152,000 SF
Asset Type
Office
Closing
Nov 26, 2019
About this deal
AI
The office property located at 2160 Grand Ave in El Segundo has been sold in a transaction worth $63,500,000. Spanning across 152,000 square feet, this property was sold at a price of $420 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $63,500,000
- Address: 2160 Grand Ave
- Market: El Segundo
The seller of the property was Griffin Capital Essential REIT Inc., represented by Kevin A. Shields. On the other hand, the buyer was SteelWave, with Barry DiRaimondo as their representative. The deal was facilitated by the brokers Kevin Shannon, Ken White, Rob Hannan, Laura Stumm, and Michael Moll from Newmark Knight Frank.
On the Map
$63,500,000
$417/SF
Office
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Players
El Segundo 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93