C3 Development Group Acquires Office Building In Hermosa Beach For $19.5M
2200 Pacific Coast Highway, Hermosa Beach, California 90254, United States
$19,500,000
$517/SF
Building Size
37,692 SF
Asset Type
Office
Closing
Aug 23, 2022
AI
The office property located at 2200 Pacific Coast Highway in Hermosa Beach has been sold. The transaction took place on 08/24/2022 and the asset type is office. The property was purchased by C3 Development Group from Vectra Management Group.
Summary of transation details
- Property Type: Office
- Transaction Amount: $19,500,000
- Date: 08/24/2022
- Address: 2200 Pacific Coast Highway
- Market: Hermosa Beach
The sale was facilitated by Sean Fulp, Ryan Plummer, Mark Schuessler, Geoff Ludwig, and Eric Lastition of Newmark. The transaction price for the property was $19,500,000, with a total square footage of 37,692. The price per square foot was $517.
Players
Hermosa Beach 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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93