California Group Acquires Office Building In Concord For $40.5M
SOLD
$40,500,000
+ 1
California
See Similar DealsOffice369,042 SF
Sold 08/23/2023
SOLD
California Group Acquires Office Building In Concord For $40.5M
2300 Clayton Rd, Concord, Ca 94520, Usa
See Similar DealsOffice369,042 SF
Sold 08/23/2023
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$109
Total Square Footage:369,042 SF
Transaction Type:Sale
A 369,042 square-foot office property located at 2300 Clayton Road in Concord has been sold for a price of $40,500,000. The property was acquired by California Group from the seller, Bridge Investment Group, in a recent transaction.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $40,500,000
- Address: 2300 Clayton Road, Concord
- Market: Concord
- Square Footage: 369,042 SF
- Price Per Square Foot: $110
Steven Golubchik, Edmund Najera, Darren Hollak, and Jonathan Schaefler from Newmark represented the seller, Bridge Investment Group, in the deal.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,160,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$143,887.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$191,990.66
Annual Debt Service$2,303,887.95
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