Updated Dec 20, 2023
Economos DeWolf Represents Both Sides In $9.6M Sale Of Irvine Office Building
41 Corporate Park, Irvine, CA, USA
$9,626,000
$1,816/SF
Building Size
5,298 SF
Asset Type
Office
Closing
Nov 24, 2019
About this deal
AI
A 29,933 square foot class A office building located at 41 Corporate Park in Irvine was recently sold for $9,626,000. The property is situated in a desirable market for office spaces. The transaction took place on November 25, 2019. Geoff DeWolf and Steve Economos, from Economos DeWolf, acted as the brokers representing both the buyer and the seller. The deal closed in under 30 days, showcasing the buyer's ability to perform due diligence efficiently.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $9,626,000
- Market: Irvine
- Address: 41 Corporate Park
This successful transaction highlights the expertise and effectiveness of Geoff DeWolf and Steve Economos from Economos DeWolf as they were able to represent both sides of the deal. Their professional approach ensured that the buyer and seller were able to reach a mutually beneficial agreement in a timely manner.
Players
Irvine 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
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93