Optimus Properties Acquires Office Building In Torrance For $15.75M
SOLD
$15,750,000
+ 1
California
See Similar DealsOffice60,804 SF
Sold 02/07/2019
SOLD
Optimus Properties Acquires Office Building In Torrance For $15.75M
2325 Crenshaw Boulevard, Torrance, CA, USA
See Similar DealsOffice60,804 SF
Sold 02/07/2019
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$259
Total Square Footage:60,804 SF
Transaction Type:Sale
The office building located at 2325 Crenshaw Blvd in Torrance has been sold in a transaction valued at $15,750,000. The property, with a total square footage of 60,804, was acquired by Optimus Properties from Transpacific Development Company. The sale price equates to approximately $259 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $15,750,000
- Square Footage: 60,804
- Address: 2325 Crenshaw Blvd, Torrance
The deal was facilitated by the brokers Sean Fulp, Ken White, Ryan Plummer, and Mark Schuessler from TeamShannonPCG and Newmarkkf. Notably, the property is 100% occupied by the Los Angeles County Department of Children and Family Services.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$840,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,956.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$74,663.04
Annual Debt Service$895,956.42
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