Updated Oct 28, 2024
Site Centers Acquires Retail Property In Lafayette For $103.2M
21 Lafayette Circle, Lafayette, California 94549, United States
$103,200,000
$788/SF
Building Size
130,900 SF
Asset Type
Retail
Closing
May 12, 2022
About this deal
AI
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.
On the Map
$103,200,000
$788/SF
Retail
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Players
Lafayette 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93