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299 W Washington Ave Sunnyv...

Soaring Fish Hot Pot - Xiang Wang Leases Retail Space At 299 West Washington Avenue In Sunnyvale With Ron E. Cruz - Newmark And Matt Sweeney & Sean O'Carroll - The Econic Company
LEASEDRetail

Soaring Fish Hot Pot - Xiang Wang Leases Retail Space At 299 West Washington Avenue In Sunnyvale With Ron E. Cruz - Newmark And Matt Sweeney & Sean O'Carroll - The Econic Company

299 W Washington Ave Sunnyvale, CA 94086, USA

$48

$48/SF

Building Size

4,832 SF

Asset Type

Retail

Closing

Jun 5, 2023

AI

The retail property located at 299 West Washington Avenue in Sunnyvale has been leased. The property, owned by Essex Property Trust, will now be occupied by Soaring Fish Hot Pot - Xiang Wang. The lease transaction was facilitated by brokers Ron E. Cruz from Newmark, and Matt Sweeney & Sean O'Carroll from The Econic Company. The asking rent for the property was $48 per square foot, and the total square footage of the space is 4,832.

Summary of transaction details

  • Property Type: Retail
  • Asking Rent: $48/ft.
  • Square Footage: 4,832
  • Address: 299 West Washington Avenue, Sunnyvale
  • Landlord: Essex Property Trust
  • Tenant: Soaring Fish Hot Pot - Xiang Wang
  • Brokers: Ron E. Cruz - Newmark; Matt Sweeney & Sean O'Carroll - The Econic Company

The lease of the property at 299 West Washington Avenue in Sunnyvale was successfully negotiated by Ron E. Cruz from Newmark and Matt Sweeney & Sean O'Carroll from The Econic Company. The deal brings Soaring Fish Hot Pot - Xiang Wang to the retail space, which is owned by Essex Property Trust. The lease was secured at an asking rent of $48 per square foot, covering a total area of 4,832 square feet.

Players

Ron E. Cruz, CCIM

The Econic Company

Broker

$52.3M

vol

17 deals

Broker
ET
Essex Property TrustLandlord

Los Angeles Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

330479.17%

Cash-on-Cash

-94451.96%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93