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5253 Business Center Drive

ATI Windows Acquires Green Tech Plaza Office Property From Eastbourne Investments For $11.5M
SOLDOffice

ATI Windows Acquires Green Tech Plaza Office Property From Eastbourne Investments For $11.5M

5253 Business Center Drive

$11,500,000

$111/SF

Building Size

103,128 SF

Asset Type

Office

Closing

Jan 26, 2025

AI

The property involved in the transaction is located at 5253 Business Center Drive in Fairfield. It is classified as an office asset type. The transaction was completed with a sale price of $11,500,000 for a total of 103,128 square feet, resulting in a price per square foot of $112. The property is intended to be repurposed as a showroom, office, and light manufacturing facility.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $11,500,000
  • Square Footage: 103,128
  • Price Per Square Foot: $112
  • Buyer: Stephen Schwartz - ATI Windows
  • Seller: Eastbourne Investments
  • Brokers: Brooks Pedder, Matt Post & Tony Binswanger - CBRE

Brooks Pedder, Matt Post, and Tony Binswanger from CBRE represented the seller, Eastbourne Investments, in this transaction. The deal marks a significant transfer of property ownership within the market, highlighting the role of brokerage firms in facilitating such transactions.

Players

Matt Post

CBRE

Broker

$54.7M

vol

7 deals

Broker

Fairfield 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

1.38%

Cash-on-Cash

-0.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93