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BSP Senta Gateway Center LLC Acquires Office Buildings In Diamond Bar And Monterey Park For $28.18M

Property Image
SOLD
$28,179,000
Tony Naples
Ryan Campbell

California

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Office239,972 SF
Sold 07/24/2024
the dealplayerscompscontact
Property Image
SOLD

BSP Senta Gateway Center LLC Acquires Office Buildings In Diamond Bar And Monterey Park For $28.18M

21680 Gateway Center Drive & 1100 Corporate Center Drive

See Similar Deals
Office239,972 SF
Sold 07/24/2024
Tony Naples
Ryan Campbell
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$117
Total Square Footage:239,972 SF
Transaction Type:Sale

The transaction involves two office buildings located at 21680 Gateway Center Drive in Diamond Bar and 1100 Corporate Center Drive in Monterey Park, California. The total sale price is $28,179,000, covering a square footage of 119,986. The price per square foot stands at $235, and both properties are fully leased.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $28,179,000
  • Square Footage: 119,986
  • Sale Price Per Square Foot: $235
  • Buyer: BSP Senta Gateway Center LLC & California Bank and Trust
  • Buyer’s Representative: Tony Naples - Lee & Associates
  • Seller’s Representative: Ryan Campbell - NAI Capital
  • Market: Diamond Bar & Monterey Park

Ryan Campbell from NAI Capital facilitated the acquisition of these properties for a private investor, who plans to hold them as long-term investments. The buildings are valued at $18.9 million and $9.3 million, respectively.

Players

Tony Naples
Lee & Associates
Tony Naples
11 deals$183.2M volume
BROKER
Ryan Campbell
NAI Global
Ryan Campbell
6 deals$102.2M volume(323) 377-6534
BROKER

Details

SOLD
IMAGE: Ryan Campbell & Tony Naples DATE: 07/24/2024 ADDRESS: 21680 Gateway Center Drive & 1100 Corporate Center Drive MARKET: Diamond Bar & Monterey Park ASSET TYPE: Office BUYER: BSP Senta Gateway Center LLC & California Bank and Trust BUYER'S REP: Tony Naples - Lee & Associates (@LeeAssociatesRE) SELLER'S REP: Ryan Campbell - NAI Capital (@NAICapital) SALE PRICE: $28,179,000 SF: 119,986 ~ PPSF: $235 NOTE: NAI Capital Commercial’s Ryan Campbell facilitated the purchase of two office buildings totaling 119,986 square feet in Diamond Bar and Monterey Park, California for a private investor. The buildings, fully leased and valued at $18.9 million and $9.3 million respectively, will be held as long-term investments.

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

$1,502,880.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$100,114.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$133,582.84
Annual Debt Service$1,602,994.04