Alexandria Real Estate Equities Acquires Sorrento Mesa Office For $17M
SOLD
$17,000,000
California
See Similar DealsOffice623,920 SF
Sold
SOLD
Alexandria Real Estate Equities Acquires Sorrento Mesa Office For $17M
9877 Waples St, San Diego, CA 92121, USA
See Similar DealsOffice623,920 SF
Sold
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$27
Total Square Footage:623920 SF
Transaction Type:Sale
The office property located at 9877 Waples St in Sorrento Mesa, San Diego, has been sold. The transaction took place on June 16, 2020, at a price of $17,000,000. The property spans an area of 62,392 square feet, with a price per square foot of $272.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $17,000,000
- Square Footage: 62,392
- Price per Square Foot: $272
- Address: 9877 Waples St, Sorrento Mesa, San Diego
The buyer of the property is Alexandria Real Estate Equities, while the seller is LPC West Inc (Lincoln Property Company). The deal was facilitated by Andy Huggett, Bill Dolan, and Sean Williams from CBRE.
Players
BROKERAGE
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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