Longfellow Real Estate Partners Acquires Office In Emeryville For $36M
SOLD
$36,000,000
California
See Similar DealsOffice63,000 SF
Sold 01/11/2022
SOLD
Longfellow Real Estate Partners Acquires Office In Emeryville For $36M
6601 Shellmound Street, Emeryville, California 94608, United States
See Similar DealsOffice63,000 SF
Sold 01/11/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$571
Total Square Footage:63,000 SF
Transaction Type:Sale
Longfellow Real Estate Partners has acquired an office property in Emeryville for $36,000,000. The property, located at 6601-6603 Shellmound Street, spans 63,000 square feet, resulting in a price per square foot of $571. The seller of the property was Griffin Capital. The transaction was facilitated by the brokerage firm JLL.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $36,000,000
- Address: 6601-6603 Shellmound Street
- Market: Emeryville
The buyer of the property was Longfellow Real Estate Partners, represented by Nick Frasco. Griffin Capital served as the seller. The transaction was completed with the assistance of JLL as the brokerage firm. The deal marks an important acquisition for Longfellow Real Estate Partners in the Emeryville market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,920,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40
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