Harbor Associates Acquires Office Building In San Pedro For $43.5M
SOLD
$43,500,000
California
See Similar DealsOffice293,000 SF
Sold
SOLD
Harbor Associates Acquires Office Building In San Pedro For $43.5M
222 W 6th St, San Pedro, CA, USA
See Similar DealsOffice293,000 SF
Sold
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$148
Total Square Footage:293000 SF
Transaction Type:Sale
Jupiter Holdings has sold an office property located at 222 W. 6th St in San Pedro to Harbor Associates. The transaction took place on October 8, 2019. The property, spanning 293,000 square feet, was sold for a price of $43,500,000, resulting in a price per square foot of $148.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $43,500,000
- Square Footage: 293,000
- Address: 222 W. 6th St, San Pedro
- Market: San Pedro
The sale of this office property was facilitated by Kevin Shannon, Ken White, and Scott Schumacher of Newmark Knight Frank, representing Jupiter Holdings. Harbor Associates acted as the buyer in this transaction.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,320,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$154,546.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$206,212.19
Annual Debt Service$2,474,546.31
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