Updated Oct 29, 2024
Brad Pennington, Steve Elson, And Jeremy K. Rogers Sell Carpinteria Office Building For $44M
6303 Carpinteria Avenue, Carpinteria, CA, USA
$44,000,000
$362/SF
Building Size
121,230 SF
Asset Type
Office
Closing
Feb 15, 2021
About this deal
AI
Brad Pennington, Steve Elson, and Jeremy K. Rogers have sold an office property located at 6303-6309 Carpinteria Ave. in Carpinteria. The property, spanning 121,230 square feet, was sold for a total price of $44,000,000, resulting in a price per square foot of $362. The transaction took place on February 16, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $44,000,000
- Property Address: 6303-6309 Carpinteria Ave.
- Market: Carpinteria
- Square Footage: 121,230
- Price per Square Foot: $362
Brad Pennington, Steve Elson, and Jeremy K. Rogers, representing Montana Avenue Capital, served as the sellers in this transaction.
Players
Carpinteria 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93