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505 Lomas Santa Fe Drive, S...

Lansing Companies Acquires Office Building In Solana Beach For $18M
SOLDOffice

Lansing Companies Acquires Office Building In Solana Beach For $18M

505 Lomas Santa Fe Drive, Solana Beach, California 92075, United States

$18,000,000

$782/SF

Building Size

23,000 SF

Asset Type

Office

Closing

Jun 6, 2022

AI

505 Lomas Santa Fe Drive, located in Solana Beach, has been sold for $18,000,000. This office property spans approximately 23,000 square feet, resulting in a price per square foot of $782. The transaction took place on 06/07/2022.

Summary of transaction details:

Lansing Companies acquired the property from Beckman Properties in this transaction. The deal was facilitated by brokers Joe Anderson, Brooks Campbell, and Peter Curry from Cushman & Wakefield.

Players

Brooks Campbell

Cushman & Wakefield

Broker

$80.6M

vol

8 deals

Broker

Solana 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

0.88%

Cash-on-Cash

-0.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93