George Mersho's Shoe Palace Acquires Retail Property In Montebello For $84M
2000 Montebello Town Center, Montebello, California 90640, United States
$84,000,000
$114/SF
Building Size
735,000 SF
Asset Type
Retail
Closing
Jul 21, 2022
AI
The property involved in this closed transaction is a retail asset located at 2000 Montebello Town Center in Montebello. It covers an area of 735,000 square feet. The sale of this property took place on 07/22/2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $84,000,000
- Price per Square Foot: $114
- Address: 2000 Montebello Town Center
- Market: Montebello
The buyer in this transaction is Shoe Palace, represented by George Mersho. Shoe Palace acquired the property from UBS Realty Investors, represented by Matt Johnson and Rod Chu.
It is noteworthy that the transaction involved Matt Johnson and Rod Chu from UBS Realty Investors as the sellers, while George Mersho from Shoe Palace acted as the buyer.
Players
Montebello Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93