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Site Centers Acquires Retail Property In Lafayette For $103.2M

Property Image
SOLD
$103,200,000

California

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Retail130,900 SF
Sold 05/13/2022
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Property Image
SOLD

Site Centers Acquires Retail Property In Lafayette For $103.2M

21 Lafayette Circle, Lafayette, California 94549, United States

See Similar Deals
Retail130,900 SF
Sold 05/13/2022
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$788
Total Square Footage:130,900 SF
Transaction Type:Sale

21 Lafayette Cir. & 3585-3597 Mt. Diablo Blvd. in Lafayette has been sold for $103,200,000. The retail property spans 130,900 square feet with a price per square foot of $788. The transaction took place on May 13, 2022. The buyer, SITE Centers, was represented by David Lukes. The sellers, Stephen Cortese and Ann Cortese, enlisted the services of Nicholas Bicardo and Steven Golubchik from Newmark as their brokers in this deal.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $103,200,000
  • SF: 130,900
  • PPSF: $788
  • Date: 05/13/2022
  • Address: 21 Lafayette Cir. & 3585-3597 Mt. Diablo Blvd.
  • Market: Lafayette

The buyer's representative, David Lukes, played a crucial role in facilitating the transaction. The sellers, Stephen Cortese and Ann Cortese, engaged the services of Nicholas Bicardo and Steven Golubchik from Newmark as their brokers, ensuring a smooth negotiation process.

Players

Steven Golubchik
19 deals$2B volume
BROKER

Nicholas (Nick) Bicardo
Newmark
5 deals$168.2M volume(415) 445-5172
BROKER

David Lukes
SITE Centers
28 deals$1.6B volume
BUYER

Details

SOLD
IMAGE: Nicholas Bicardo & Steven Golubchik DATE: 05/13/2022 ADDRESS: 21 Lafayette Cir. & 3585-3597 Mt. Diablo Blvd. MARKET: Lafayette ASSET TYPE: Retail BUYER: SITE Centers - David Lukes SELLER: Stephen Cortese & Ann Cortese BROKERS: Nicholas Bicardo & Steven Golubchik - Newmark SALE PRICE: $103,200,000 SF: 130,900 ~ PPSF: $788

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,503,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$366,647.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$489,220.65
Annual Debt Service$5,870,647.80