DPR Construction Acquires Santa Clara Office Building For $49.4M
SOLD
$49,400,000
California
See Similar DealsOffice150,000 SF
Sold 09/19/2022
SOLD
DPR Construction Acquires Santa Clara Office Building For $49.4M
5201 Patrick Henry Drive, Santa Clara, California 95054, United States
See Similar DealsOffice150,000 SF
Sold 09/19/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$329
Total Square Footage:150,000 SF
Transaction Type:Sale
An office property located at 5201 Patrick Henry Drive in Santa Clara has been sold for a total of $49,400,000. The property spans a total area of 150,000 square feet, resulting in a price per square foot of $329. The sale was concluded on September 19, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $49,400,000
- Address: 5201 Patrick Henry Drive
- Market: Santa Clara
- Buyer: DPR Construction - George Pfeffer
- Seller: W.F. Batton Management
- Brokers: Steve Horton & Kelly Yoder - Cushman & Wakefield; Kelly Givens & David Gordon - Savills
The buyer of the property is DPR Construction, represented by George Pfeffer. The seller in this transaction is W.F. Batton Management. The deal was facilitated by brokers Steve Horton and Kelly Yoder from Cushman & Wakefield, as well as Kelly Givens and David Gordon from Savills.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,634,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$175,507.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$234,181.20
Annual Debt Service$2,810,174.43
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