Updated Oct 29, 2024
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
About this deal
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
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