Updated Oct 29, 2024
Montana Avenue Capital Acquires Office & Industrial Property In Burbank For $37M
2777 N Ontario St, Burbank, California 91504, United States
$37,000,000
$291,338/SF
Building Size
127 SF
Asset Type
Office
Closing
Mar 1, 2023
About this deal
AI
The Office & Industrial property located at 2777 North Ontario Street in Burbank has been sold for a price of $37,000,000. The property spans across 127,140 square feet, resulting in a price per square foot of $291. The transaction took place on January 3, 2023.
Summary of transaction details
- Property Type: Office & Industrial
- Transaction Amount: $37,000,000
- Address: 2777 North Ontario Street, Burbank
- Market: Burbank
Montana Avenue Capital acquired the property from Washington Capital Management and SSV Properties. The deal was facilitated by Kevin Shannon, Ken White, Rob Hannan, Laura Stumm, and Michael Kolcum of Newmark as the brokers representing both the buyer and the seller. David Milestone and Brett Green, also from Newmark, served as mortgage brokers.
On the Map
$37,000,000
$291,338/SF
Office
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Players
Burbank Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93