Updated Oct 29, 2024
Octane Realty & Development Acquires Office Building In Glendale For $27.5M
520 North Central Avenue, Glendale, CA 91203, USA
$27,500,000
$138/SF
Building Size
199,226 SF
Asset Type
Office
Closing
Apr 1, 2018
About this deal
AI
520 N. Central Avenue, located in Los Angeles, was recently sold in a transaction that closed on April 2, 2018. The property, an office asset, was part of a sale in Glendale's market. The sale price for this transaction was $27,500,000. The sellers involved in the deal were Property Company and Long Warf Real Estate Partners, while the buyers were Octane Realty & Development, represented by Greg McLemore and Patrick Chraghchian.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $27,500,000
- Seller: Property Company and Long Warf Real Estate Partners
- Buyer: Octane Realty & Development - Greg McLemore and Patrick Chraghchian
Greg McLemore and Patrick Chraghchian of Octane Realty & Development played a key role as the buyers in the transaction. They represented Octane Realty & Development in the deal, acquiring the office property located at 520 N. Central Avenue. This transaction highlights their strategic investment in the Los Angeles market.
On the Map
$27,500,000
$138/SF
Office
View full map
Players
Glendale Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse California office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93