Union Investment Acquires Office Building In Sunnyvale For $222M
SOLD
$222,000,000
California
See Similar DealsOffice195,652 SF
Sold 10/28/2022
SOLD
Union Investment Acquires Office Building In Sunnyvale For $222M
684 West Maude Avenue, Sunnyvale, California 94085, United States
See Similar DealsOffice195,652 SF
Sold 10/28/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$1,134
Total Square Footage:195,652 SF
Transaction Type:Sale
The office property located at 684 West Maude Avenue in Sunnyvale has been sold for a price of $222,000,000. The property spans an area of 195,652 square feet, resulting in a price per square foot of $1,135. The sale took place on October 28, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $222,000,000
- Address: 684 West Maude Avenue
- Market: Sunnyvale
- Buyer: Union Investment - Michael Bütter
- Seller: Harvest Properties & Invesco Real Estate
- Buyer's Representative: Metzler Real Estate
- Seller's Representative: Eastdil Secured
- Square Footage: 195,652
- Price per Square Foot: $1,135
The buyer, Union Investment represented by Michael Bütter, acquired the property from Harvest Properties & Invesco Real Estate. Metzler Real Estate represented the buyer in this transaction, while Eastdil Secured acted as the seller's representative.
Players
SELLER
SELLER
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$11,839,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$788,719.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,052,393.26
Annual Debt Service$12,628,719.11
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