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
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