JJ&W Acquires 12.4 Acre Office Property In San Jose For $94.7M
SOLD
$94,700,000
California
See Similar DealsOffice209 SF
SOLD
JJ&W Acquires 12.4 Acre Office Property In San Jose For $94.7M
2520 Junction Avenue, San Jose, California 95134, United States
See Similar DealsOffice209 SF
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$453,110
Total Square Footage:209 SF
Transaction Type:Sale
Joe Moriarty, Scott Prosser, and Jack DePuy of CBRE facilitated the sale of an office property located at 2520, 2540-2560 Junction Ave & 541-555 E. Trimble Road in San Jose, CA. This property spans across 12.4 acres and was sold for a total price of $94,700,000. The office space features a total area of 209,425 square feet, with a price per square foot of $452. The transaction took place on November 16, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $94,700,000
- Address: 2520, 2540-2560 Junction Ave & 541-555 E. Trimble Road, San Jose, CA
- Market: San Jose, CA
- Acres: 12.4
The buyer, JJ&W, acquired the property from the sellers, Four Corners Properties and Rockwood Capital. Representing the buyer in this transaction were Scott Prosser, Joe Moriarty, and Jack DePuy from CBRE. This sale marks a significant transaction in the San Jose office market, showcasing the demand for commercial properties in the area.
Players
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,050,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$336,449.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$448,926.31
Annual Debt Service$5,387,115.76
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