Amazon Acquires Office Building In Santa Ana For $63.2M
SOLD
$63,179,500
California
See Similar DealsOffice184,086 SF
Sold 10/19/2020
SOLD
Amazon Acquires Office Building In Santa Ana For $63.2M
625 North Grand Avenue, Santa Ana, CA, USA
See Similar DealsOffice184,086 SF
Sold 10/19/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$343
Total Square Footage:184,086 SF
Transaction Type:Sale
The office building located at 625 N. Grand Ave. in Santa Ana, California has been sold in a recent transaction. The property, owned by Michael F. Harrah, was purchased by Amazon. The transaction took place on October 19, 2020, for a total price of $63,179,500. The office building is situated in the Santa Ana market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $63,179,500
- Address: 625 N. Grand Ave.
- Market: Santa Ana
- Buyer: Amazon
- Seller: Michael F. Harrah
The sale of this office building represents a significant transaction in the Santa Ana market. Amazon, one of the world's largest companies, has acquired the property from Michael F. Harrah. This deal highlights the ongoing demand for office spaces in Santa Ana and showcases Amazon's continued investment in the area.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,369,573.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$224,463.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$299,503.06
Annual Debt Service$3,594,036.75
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