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6601 Shellmound Street, Eme...

Longfellow Real Estate Partners Acquires Office In Emeryville For $36M
SOLDOffice

Longfellow Real Estate Partners Acquires Office In Emeryville For $36M

6601 Shellmound Street, Emeryville, California 94608, United States

$36,000,000

$571/SF

Building Size

63,000 SF

Asset Type

Office

Closing

Jan 11, 2022

AI

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.

Players

LP
Longfellow Real Estate PartnersBuyer
GC
Griffin CapitalSeller

Emeryville Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.44%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93