GIGU Inc Purchases 105297 SF Property In Stockton For $17 Million With Chris Tramontano And John Redfield As Seller's Representatives
SOLD
$17,000,000
California
See Similar DealsRetail105,297 SF
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SOLD
GIGU Inc Purchases 105297 SF Property In Stockton For $17 Million With Chris Tramontano And John Redfield As Seller's Representatives
2323 W Hammer Ln, Stockton, CA, 95...
See Similar DealsRetail105,297 SF
Sold
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$161
Total Square Footage:105,297 SF
Transaction Type:Sale
The shopping center known as Stockton Plaza, located at 2323 W Hammer Lane in Stockton, has been sold for $17,000,000.00. The property spans 105,297 square feet and was reported to be 97 percent occupied at the time of the sale. Notable tenants include Food Source (Raley’s), AutoZone, BBVA Compass Bank, Great Clips, McDonald’s, and Little Caesars.
Summary of transaction details:
- Property Type: Shopping Center
- Transaction Amount: $17,000,000.00
- Address: 2323 W Hammer Ln, Stockton, CA
- Market: Stockton
- Square Footage: 105,297
- Buyer: GIGU Inc
- Seller: PPC-Stockton Plaza L.P.
- Seller's Representatives: Chris Tramontano-SRS Real Estate Partners, John Redfield-SRS Real Estate Partners, Steve Kalyk-SRS Real Estate Partners
The seller, PPC-Stockton Plaza L.P., was represented in this transaction by Chris Tramontano, John Redfield, and Steve Kalyk, all members of SRS Real Estate Partners’ Investment Properties Group. Their involvement highlights the brokerage's role in facilitating the sale of this well-occupied retail asset.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$906,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08
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