MGR Real Estate Acquires Office Property In Ontario For $39M
SOLD
$39,000,000
+ 2
California
See Similar DealsOffice148 SF
Sold 06/01/2023
SOLD
MGR Real Estate Acquires Office Property In Ontario For $39M
2855 E Guasti Rd, Ontario, CA 91761
See Similar DealsOffice148 SF
Sold 06/01/2023
+ 2
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$263,513
Total Square Footage:148 SF
Transaction Type:Sale
The office building located at 2855 E. Guasti Rd in Ontario has been sold in a transaction facilitated by Brian Bowis, Kevin Shannon, Ken White, Brunson Howard, and Paul Jones. The sale took place on January 6, 2023. The property, with a total square footage of 148,000, was sold for $39,000,000, resulting in a price per square foot of $264.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $39,000,000
- Address: 2855 E. Guasti Rd, Ontario
- Square Footage: 148,000
- Market: Ontario
MGR Real Estate acted as the buyer in this transaction, while Kevin Shannon, Ken White, Brunson Howard, and Paul Jones from Newmark represented the buyer. Brian Bowis, also from Newmark, served as the mortgage broker.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,080,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$138,558.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,879.90
Annual Debt Service$2,218,558.76
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