Terry Brown Of Asana Partners Acquires Retail Asset From Seller Ryan Gallagher For $25.7M
369 East 17th Street & 1685 Tustin Avenue
$25,700,000
$326/SF
Building Size
78,668 SF
Asset Type
Retail
Closing
Jun 2, 2025
AI
The asset involved in this transaction is a retail property located at 369 East 17th Street & 1685 Tustin Avenue in the Costa Mesa market. The sale price for this property was $25,700,000, with a total square footage of 39,334, resulting in a price per square foot of $653.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $25,700,000
- Buyer: Terry Brown - Asana Partners
- Seller: Ryan Gallagher - Space Investment Partners
- Broker: CBRE
Terry Brown represented Asana Partners as the buyer in this transaction, while Ryan Gallagher represented Space Investment Partners as the seller. The deal was facilitated by the broker CBRE, ensuring a smooth transaction process between the parties involved.
Players
Costa Mesa 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
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93