Updated Sep 24, 2026
Sonoma County Library Acquires 72,000 Square Foot Office In Petaluma For $12.78M
1400 North Mcdowell Boulevard
$12,780,000
$177/SF
Building Size
72,000 SF
Asset Type
Office
Closing
Sep 16, 2026
About this deal
AI
The property asset involved in the transaction is an office building located at 1400 North Mcdowell Boulevard, Petaluma, CA. The sale price for the 72,000-square-foot building was $12,780,000, translating to a price per square foot of $178. This three-story property is intended to serve as the new headquarters for the Sonoma County Library.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $12,780,000
- Square Footage: 72,000
- Address: 1400 North Mcdowell Boulevard
- Market: Petaluma, CA
- Buyer: Erika Thibault - Sonoma County Library
- Seller: Matt White - Basin Street Properties
- Buyer's Representative: Kevin Doran - Keegan & Coppin
- Seller's Representatives: Glen Dowling, Tony Sarno & Jordan Lazor - JLL
The transaction marks a significant move for Sonoma County Library, as they plan to begin tenant improvements in early 2027, aiming for a move-in date by October 2027 for approximately 96 employees.
On the Map
$12,780,000
$177/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.24%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93