Sandstone Capital Sells Office Building In El Segundo For $31M
SOLD
$31,000,000
+ 2
California
See Similar DealsOffice55,000 SF
Sold 04/09/2019
SOLD
Sandstone Capital Sells Office Building In El Segundo For $31M
2221 Park Place, El Segundo, CA 90245, USA
See Similar DealsOffice55,000 SF
Sold 04/09/2019
+ 2
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$563
Total Square Footage:55,000 SF
Transaction Type:Sale
A 55,000 square foot office property located at 2221 Park Pl in El Segundo has been sold. The transaction took place on April 9, 2019, for a price of $31,000,000. This amounts to a price per square foot of $563. The property was sold by Sandstone Capital.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31,000,000
- Address: 2221 Park Pl, El Segundo
- Market: El Segundo
- Square Footage: 55,000
The sale of this office property was facilitated by the following brokers: Geoff Ludwig and Eric Lastition from Newmark Knight Frank, and Bob Safai, Matt Case, and Brad Schlaak from Madison Partners.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$110,136.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$146,955.82
Annual Debt Service$1,763,469.79
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