Updated Oct 28, 2024
Federal Realty Investment Trust Acquires La Mesa Retail Property For $175.8M
5500 Grossmont Center Dr, La Mesa, CA, USA
$175,800,000
$190/SF
Building Size
925,000 SF
Asset Type
Retail
Closing
Aug 11, 2021
About this deal
AI
The property involved in the transaction is a retail asset located at 5500 Grossmont Center Dr. in La Mesa. The sale took place on August 12, 2021. The property spans a total of 925,000 square feet and was sold for a price of $175,800,000, resulting in a price per square foot of $190.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $175,800,000
- Address: 5500 Grossmont Center Dr., La Mesa
- Market: La Mesa
- Square Footage: 925,000 SF
The buyer of the property is Federal Realty Investment Trust, represented by Jan Sweetnam. The seller is the Cushman Family. Jan Sweetnam from Federal Realty Investment Trust acted as the buyer's representative in the deal.
On the Map
$175,800,000
$190/SF
Retail
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La 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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93