Updated Oct 29, 2024
Sonnenblick Development LLC Acquires Monterey Park Office Building For $37.5M
588 Atlas Avenue, Monterey Park, CA, USA
$37,500,000
$436/SF
Building Size
86,000 SF
Asset Type
Office
Closing
Jan 27, 2021
About this deal
AI
The property involved in this transaction is an office located at 588 Atlas Ave in Monterey Park. It has a total area of 86,000 square feet and was sold for a price of $37,500,000, resulting in a price per square foot of $436.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $37,500,000
- Square Footage: 86,000
- Address: 588 Atlas Ave, Monterey Park
- Market: Monterey Park
- Buyer: Sonnenblick Development LLC
The buyer in this transaction is Sonnenblick Development LLC.
The office sale at 588 Atlas Avenue, Monterey Park, CA, USA in Monterey Park, California sold for $37.5M in 2021. The building is 86,000 square feet, implying about 436 per square foot on the published price. This page is the Monterey Park, California file for the 588 Atlas Avenue, Monterey Park, CA, USA office sold: pricing, party profiles, and other closed office comps from the same Monterey Park sit in the Market section below. Filter that Monterey Park office set by closing date to see what else sold near 588 Atlas Avenue, Monterey Park, CA, USA around 2021. Published consideration for 588 Atlas Avenue, Monterey Park, CA, USA is $37.5M, dated 2021. Cite this Sonnenblick Development LLC Acquires Monterey Park Office Building For $37.5M sale when underwriting similar office product around Monterey Park, California.
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Monterey Park Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93