Updated Oct 28, 2024
LB5000, LLC Acquires 2.7 Acre Office Property In Long Beach, CA For $29M
5000 Airport Plaza Drive, Long Beach, California 90815, United States
$29,000,000
$229/SF
Building Size
126,219 SF
Asset Type
Office
Closing
Oct 9, 2022
About this deal
AI
The property involved in this transaction is an office building located at 5000 & 5001 Airport Plaza Drive in Long Beach, CA. The property sits on approximately 2.7 acres of land. The transaction took place on 10/10/2022.
Summary of transaction details
- Property Type: Office
- Sale Price: $29,000,000
- Square Footage: 126,219
- Price per Square Foot: $230
- Address: 5000 & 5001 Airport Plaza Drive, Long Beach, CA
- Market: Long Beach, CA
The buyer in this transaction is LB5000, LLC, while the seller is WCCP Airport Plaza L.B. LLC. The deal was facilitated by the brokers Kevin Shannon, Ken White, Scott Schumacher, Sean Fulp, and Ryan Plummer from Newmark.
On the Map
$29,000,000
$229/SF
Office
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Players
Long Beach 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93