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604 Arizona Avenue

Hudson Pacific Properties Sells Office Building In Santa Monica For $32.5M
SOLDOffice

Hudson Pacific Properties Sells Office Building In Santa Monica For $32.5M

604 Arizona Avenue

$32,500,000

$734/SF

Building Size

44,260 SF

Asset Type

Office

Closing

Aug 25, 2023

AI

The property involved in this transaction is an office space located at 604 Arizona Avenue in Santa Monica. It spans a total of 44,260 square feet and was sold for a price of $32,500,000, resulting in a per square foot price of $734.

Summary of Transaction Details:

  • Property Type: Office
  • Transaction Amount: $32,500,000
  • Address: 604 Arizona Avenue
  • Market: Santa Monica
  • Square Footage: 44,260
  • Price Per Square Foot: $734

The seller in this transaction is Hudson Pacific Properties. They were represented by Blake Mirkin, Kyle Widener, Melissa Moock, Sean Sullivan, Michael Longo, and Todd Tydlaska from CBRE.

Players

Michael Longo

CBRE

Broker

$1.9B

vol

32 deals

Broker
HP
Hudson Pacific PropertiesSeller

Market 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

0.49%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93