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369 East 17th Street

Terry Brown Of Asana Partners Acquires Retail Asset From Seller Ryan Gallagher For $25.7M
SOLDRetail

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

CBRE
CBREBrokerage

Terry Brown

Asana Partners

Buyer

$169.4M

vol

5 deals

Buyer

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