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Terry Brown Of Asana Partners Acquires Retail Asset From Seller Ryan Gallagher For $25.7M
SOLD
$25,700,000
California
See Similar DealsRetail78,668 SF
Sold 06/02/2025
SOLD
Terry Brown Of Asana Partners Acquires Retail Asset From Seller Ryan Gallagher For $25.7M
369 East 17th Street & 1685 Tustin Avenue
See Similar DealsRetail78,668 SF
Sold 06/02/2025
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$326
Total Square Footage:78,668 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,370,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$91,306.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$121,831.11
Annual Debt Service$1,461,973.34
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