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
$28,179,000
$117/SF
Building Size
239,972 SF
Asset Type
Office
Closing
Jul 24, 2024
AI
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
Diamond Bar 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93