facebook
Traded Co logo
Submit

Dennis Needleman Acquires Life Sciences Building On Long Beach Blvd For $9.3M

Property Image
SOLD
$9,305,717
David Kern
Orbell Ovaness
Ara Rostamian
+ 1

California

See Similar Deals
Other8,600 SF
Sold 06/03/2022
the dealplayerscompscontact
Property Image
SOLD

Dennis Needleman Acquires Life Sciences Building On Long Beach Blvd For $9.3M

1525 Long Beach Boulevard, Long Beach, California 90813, United States

See Similar Deals
Other8,600 SF
Sold 06/03/2022
David Kern
Orbell Ovaness
Ara Rostamian
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Other
Price Per Square Foot:$1,082
Total Square Footage:8,600 SF
Transaction Type:Sale

The property involved in this transaction is a Life Sciences asset located at 1525 Long Beach Blvd in Long Beach. The property spans 8,600 square feet and was sold for a price of $9,305,717, resulting in a price per square foot of $1,082.

Summary of transaction details:

  • Property Type: Life Sciences
  • Transaction Amount: $9,305,717
  • Address: 1525 Long Beach Blvd
  • Market: Long Beach

The buyer in this transaction was Dennis Needleman, while Donald Devine acted as the seller. The brokers involved in the deal were Alvin Mansour, David Kern, Orbell Ovaness, and Ara Rostamian from The Mansour Group at Marcus & Millichap.

Players

Orbell Ovaness
Marcus & Millichap
Orbell Ovaness
24 deals$210.7M volume(213) 943-1822
BROKER
Alvin Mansour
Marcus & Millichap
Alvin Mansour
7 deals$121M volume
BROKER
Ara Rostamian
Marcus & Millichap
Ara Rostamian
24 deals$210.7M volume(818) 823-0832
BROKER
David Kern
Marcus & Millichap
David Kern
4 deals$92M volume
BROKER

Details

SOLD
IMAGE: Ara Rostamian, Orbell Ovaness, David Kern & Alvin Mansour DATE: 06/03/2022 ADDRESS: 1525 Long Beach Blvd. MARKET: Long Beach ASSET TYPE: Life Sciences BUYER: Dennis Needleman SELLER: Donald Devine BROKERS: Alvin Mansour, David Kern, Orbell Ovaness (@Orbell_Ovaness) & Ara Rostamian (@Rostamian_Deals) (The Mansour Group) (@_TheMansourGroup_) - Marcus & Millichap (@MarcusMillichapLosAngeles) SALE PRICE: $9,305,717 SF: 8,600 ~ PPSF: $1,082

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$496,304.90

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$33,061.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,113.85
Annual Debt Service$529,366.15