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...
$17,000,000
$161/SF
Building Size
105,297 SF
Asset Type
Retail
Closing
Sep 9, 2019
AI
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.
Players
Stockton 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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93