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:
- Property Type: Office
- Transaction Amount: $18,000,000
- Address: 505 Lomas Santa Fe Drive
- Market: Solana Beach
- Buyer: Lansing Companies
- Seller: Beckman Properties
- Brokers: Joe Anderson, Brooks Campbell & Peter Curry - Cushman & Wakefield
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
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