Sterling Organization Acquires Retail Property From Nuveen For $127 Million In San Mateo
SOLD
$127,000,000
+ 2
California
See Similar DealsRetail231,700 SF
Sold 12/20/2024
SOLD
Sterling Organization Acquires Retail Property From Nuveen For $127 Million In San Mateo
3000 Bridgepointe Parkway
See Similar DealsRetail231,700 SF
Sold 12/20/2024
+ 2
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$548
Total Square Footage:231,700 SF
Transaction Type:Sale
The retail asset located at 3000 Bridgepointe Parkway in San Mateo has been sold for $127,000,000. The property spans a total of 231,700 square feet, resulting in a price per square foot of $548.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $127,000,000
- Address: 3000 Bridgepointe Parkway
- Market: San Mateo
- Square Footage: 231,700
- Price per Square Foot: $548
- Buyer: Sterling Organization
- Seller: Nuveen
- Broker Representatives: Eric Kathrein, Geoff Tranchina, Daniel Tyner, Gleb Lvovich, Warren McClean - JLL
The transaction was facilitated by broker representatives from JLL, specifically Eric Kathrein, Geoff Tranchina, Daniel Tyner, Gleb Lvovich, and Warren McClean, who played a significant role in the deal between Sterling Organization and Nuveen.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,773,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$451,204.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$602,044.79
Annual Debt Service$7,224,537.51
Is there something missing? Send suggestions