SummerHill Homes Acquires Office In Palo Alto, CA For $27.5M
2850 West Bayshore Road, Palo Alto, California 94303, United States
$27,500,000
$848/SF
Building Size
32,400 SF
Asset Type
Office
Closing
Oct 24, 2022
AI
The office property located at 2850 West Bayshore Road in Palo Alto, CA has been sold for a total price of $27,500,000. The transaction took place on October 25, 2022, and the property encompasses 2.4 acres.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $27,500,000
- Address: 2850 West Bayshore Road, Palo Alto, CA
- Market: Palo Alto, CA
- Asset Size: 2.4 acres
The buyer of the property is SummerHill Homes, represented by Robert Freed. Comerica Bank provided the loan for the transaction. The office space has a total size of 32,400 square feet, resulting in a price per square foot of $849.
Players
Palo Alto 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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93