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2323 W Hammer Ln, Stockton,...

GIGU Inc Purchases 105297 SF Property In Stockton For $17 Million With Chris Tramontano And John Redfield As Seller's Representatives
SOLDRetail

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

Chris Tramontano

SRS Real Estate Partners

Broker

$82.9M

vol

6 deals

Broker

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