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2855 Bowers Avenue, Santa C...

Roy Kelvin's GI Partners Acquires Santa Clara Office Complex For $41.5M
SOLDOffice

Roy Kelvin's GI Partners Acquires Santa Clara Office Complex For $41.5M

2855 Bowers Avenue, Santa Clara, CA, USA

$41,500,000

$389/SF

Building Size

106,500 SF

Asset Type

Office

Closing

Mar 1, 2021

AI

The office building located at 2855 Bowers Ave in Santa Clara has been sold in a transaction that closed on March 2, 2021. The property, along with 2710 Walsh Ave, was purchased for a total price of $41,500,000. The combined square footage of the two addresses is 106,500, resulting in a price per square foot of $389.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $41,500,000
  • Address: 2855 Bowers Ave, 2710 Walsh Ave
  • Market: Santa Clara
  • Buyer: Roy Kelvin - GI Partners
  • Broker: Barry Howard - Berkshire Hathaway California Realty

Roy Kelvin, representing GI Partners, was the buyer in the transaction. Barry Howard of Berkshire Hathaway California Realty served as the broker.

Players

Barry Howard

Berkshire Hathaway HomeServices

Broker

$41.5M

vol

1 deal

Broker

Roy Kelvin

GI Partners

Buyer

$71.6M

vol

2 deals

Buyer

Santa Clara Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.38%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93