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2200 Pacific Coast Highway,...

C3 Development Group Acquires Office Building In Hermosa Beach For $19.5M
SOLDOffice

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

Mark Schuessler

Colliers

Broker

$1.3B

vol

37 deals

Broker
VG
Vectra Management GroupSeller

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