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The Korda Group Acquires Office Property In Pomona For $28.05M

Property Image
SOLD
$28,050,000
Andrey Mindirgasov
Paul Jones
+ 3

California

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Office96,365 SF
Sold 10/28/2021
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Property Image
SOLD

The Korda Group Acquires Office Property In Pomona For $28.05M

901 Corporate Center Drive, Pomona, CA 91768

See Similar Deals
Office96,365 SF
Sold 10/28/2021
Andrey Mindirgasov
Paul Jones
+ 3
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$291
Total Square Footage:96,365 SF
Transaction Type:Sale

The sale of an office property in Pomona has been completed at 901 Corporate Center Drive. The transaction involved an asset of 96,365 square feet, with a sale price of $28,050,000. The property was purchased by The Korda Group from Foremost Corporate, with the deal facilitated by brokers Kevin Shannon, Paul Jones, Ken White, Brunson Howard, Andrey Mindirgasov, and Brandon White of Newmark. The property's price per square foot was $291, reflecting the value of the transaction.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $28,050,000
  • Square Footage: 96,365
  • Address: 901 Corporate Center Drive
  • Market: Pomona
  • Buyer: The Korda Group
  • Seller: Foremost Corporate
  • Brokers: Kevin Shannon, Paul Jones, Ken White, Brunson Howard, Andrey Mindirgasov, and Brandon White - Newmark

The completion of this transaction signifies the successful transfer of ownership of the office property at 901 Corporate Center Drive in Pomona. The involvement of The Korda Group as the purchaser and Foremost Corporate as the seller highlights the active nature of the real estate market in the area. The coordination of brokers Kevin Shannon, Paul Jones, Ken White, Brunson Howard, Andrey Mindirgasov, and Brandon White from Newmark further facilitates the smooth execution of the sale.

Players

Brandon White
19 deals$901.6M volume(949) 608-2113
BROKER

Ken White
Newmark
96 deals$6.1B volume
BROKER

Paul Jones
Newmark
26 deals$1.3B volume
BROKER

Kevin Shannon
Newmark
136 deals$9.1B volume
BROKER

Andrey Mindirgasov
Colliers
10 deals$168.2M volume
BROKER

Brunson Howard
Newmark
12 deals$1.1B volume
BROKER

Details

SOLD
IMAGE: Kevin Shannon, Paul Jones, Brunson Howard, Ken White, Brandon White & Andrey Mindirgasov DATE: 10/28/2021 ADDRESS: 901 Corporate Center Drive MARKET: Pomona ASSET TYPE: Office BUYER: The Korda Group SELLER: Foremost Corporate BROKERS: Kevin Shannon, Paul Jones, Ken White, Brunson Howard, Andrey Mindirgasov & Brandon White - Newmark SALE PRICE: $28,050,000 SF: 96,365 ~ PPSF: $291

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,495,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$99,655.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,971.31
Annual Debt Service$1,595,655.73