Patrick Toomey Of Marcus & Millichap Represents Seller In Sale Of 2172 Cherry Ave Signal Hill
2172 Cherry Ave, Signal Hill, CA, 90755
Building Size
154,750 SF
Asset Type
Retail
Closing
Oct 8, 2019
AI
Towne Center East is a fully leased retail center located at 2172 Cherry Ave, Signal Hill, CA, encompassing 154,750 square feet of retail space situated on nearly 15 acres. The property features a diverse mix of tenants including The Home Depot, PetSmart, Supercuts, T-Mobile, Subway, GNC, Chinese Combo, and Tutti Frutti Yogurt, among others.
Summary of transaction details:
- Property Type: Retail Center
- Transaction Amount: Undisclosed
- Address: 2172 Cherry Ave, Signal Hill, CA, 90755
- Market: Signal Hill
- Seller's Representative: Patrick Toomey - Marcus & Millichap
- Buyer: Unknown
- Seller: BIG Shopping Centers USA
- Square Footage: 154750
Patrick Toomey and Tom Lagos of JLL Capital Markets represented the seller in the transaction, while Matthew Stewart and Reid McGlamery from the JLL Capital Markets debt placement team facilitated the acquisition financing for the buyer.
Players
Signal Hill Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93