The World School Acquires Office Building In Downtown San Jose For $33M
525 Race Street, San Jose, California 95126, United States
$33,000,000
$453/SF
Building Size
72,700 SF
Asset Type
Office
Closing
Apr 10, 2022
AI
The World School has purchased an office property located at 525 Race St. in Downtown San Jose. The transaction was facilitated by brokers Erik Hallgrimson, Walt Stephenson, and Brett Krouskup from Cushman & Wakefield. The sale took place on April 11, 2022.
Summary of transaction details
- Property Type: Office
- Sale Price: $33,000,000
- Square Footage: 72,700 SF
- Price per Square Foot: $453
- Address: 525 Race St.
- Market: Downtown San Jose
Walt Stephenson, Erik Hallgrimson, and Brett Krouskup represented The World School as brokers from Cushman & Wakefield in this transaction. They played a crucial role in facilitating the purchase of the office property.
Players
San Jose 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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93