Sterling Organization Purchases Retail Asset From Blackrock & Citivest For $61.1 Million
SOLD
$61,100,000
+ 1
California
See Similar DealsRetail120,531 SF
Sold 04/04/2025
SOLD
Sterling Organization Purchases Retail Asset From Blackrock & Citivest For $61.1 Million
1900 Tice Valley Boulevard
See Similar DealsRetail120,531 SF
Sold 04/04/2025
+ 1
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$506
Total Square Footage:120,531 SF
Transaction Type:Sale
The retail property asset located at 1900 Tice Valley Boulevard in Walnut Creek has been sold for $61,100,000. The property encompasses a total area of 120,531 square feet, resulting in a price per square foot of $506.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $61,100,000
- Buyer: Sterling Organization
- Seller: Blackrock & Citivest
- Broker Representatives: Eric Kathrein, Geoff Tranchina, Gleb Lvovich & Daniel Tyner - JLL
This transaction involved key representatives from JLL, who facilitated the deal. Eric Kathrein, Geoff Tranchina, Gleb Lvovich, and Daniel Tyner played a crucial role in representing the buyer and seller. Their combined expertise contributed to the successful completion of this retail property sale.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,258,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$217,075.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$289,645.17
Annual Debt Service$3,475,742.06
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