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Santa Ana Unified School District Purchases Office Building In Irvine For $7.8M

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SOLD
$7,847,575

California

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Office17,635 SF
Sold 01/18/2019
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Property Image
SOLD

Santa Ana Unified School District Purchases Office Building In Irvine For $7.8M

2495 Campus Drive, Irvine, CA, USA

See Similar Deals
Office17,635 SF
Sold 01/18/2019
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$445
Total Square Footage:17,635 SF
Transaction Type:Sale

An office building located at 2495 Campus Dr. in Irvine has been sold in a transaction that closed on January 18, 2019. The property, spanning 17,635 square feet, was purchased for a total price of $7,847,575, resulting in a price per square foot of $445. The buyer in this transaction was the Santa Ana Unified School District, while the seller was 2495 Investments LLC. The deal was facilitated by John Collins, Gary McArdell, and Jack Haley of Lee & Associates.

Summary of transaction details:

  • Property Type: Office building
  • Transaction Amount: $7,847,575
  • Size: 17,635 square feet
  • Price per Square Foot: $445
  • Address: 2495 Campus Dr., Irvine
  • Market: Irvine

The involvement of John Collins, Gary McArdell, and Jack Haley from Lee & Associates as brokers highlights the role they played in representing both the buyer and the seller in this office building transaction.

Players

John Collins
4 deals$10.6M volume
BROKER

Gary McArdell
Lee & Associates
2 deals$7.8M volume
BROKER

Jack Haley
Lee & Associates
4 deals$21.2M volume
BROKER

Details

SOLD
IMAGE: John Collins, Gary McArdell & Jack Haley DATE: 01/18/2019 ADDRESS: 2495 Campus Dr. MARKET: Irvine ASSET TYPE: Office building PRICE: $7,847,575 SF: 17,635 PPSF: $445 BUYER: Santa Ana Unified School District SELLER: 2495 Investments LLC BROKERS: John Collins, Gary McArdell and Jack Haley of Lee & Associates

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$418,537.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$27,880.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,201.51
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