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214 Town Center Parkway

Brixton Capital Acquires Retail Property In Santee For $27.1M
SOLDRetail

Brixton Capital Acquires Retail Property In Santee For $27.1M

214 Town Center Parkway

$27,100,000

$253/SF

Building Size

106,903 SF

Asset Type

Retail

Closing

Jul 20, 2022

AI

A retail property located at 214, 230-240, 262-278 & 294 Town Center Pky in Santee has been sold in a closed transaction. The property spans a total of 106,903 square feet and is situated in the Santee market. The sale price for this retail asset was $27,100,000, resulting in a price per square foot of $253.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $27,100,000
  • Square Footage: 106,903 sq. ft.
  • Address: 214, 230-240, 262-278 & 294 Town Center Pky., Santee
  • Market: Santee

The buyer of the property is Brixton Capital, while the seller is Union City Investments, represented by Marcia Alphson. The deal was facilitated by the broker team consisting of Sean Cox, Alexander Moore, and Don MacLellan from Faris Lee Investments.

Players

Don MacLellan

Faris Lee Investments

Broker

$256.5M

vol

15 deals

Broker
Brixton Capital
Brixton CapitalBuyer

Center 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

0.59%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93