Updated Oct 28, 2024
Onni Acquires Retail Property On East Pacific Coast Highway In Long Beach For $67.9M
6500 East Pacific Coast Highway, Long Beach, CA, USA
$67,900,000
$252/SF
Building Size
268,811 SF
Asset Type
Retail
Closing
Dec 2, 2021
About this deal
AI
On December 2, 2021, a retail property was sold in Long Beach located at 6500 East Pacific Coast Highway. The property spans approximately 6.17 acres and was transacted for a sale price of $67,900,000. The buyer of the property was Onni, while the seller was Regency Centers.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $67,900,000
- Address: 6500 East Pacific Coast Highway, Long Beach
- Market: Long Beach
- Brokers: Kevin Shannon, Bill Bauman, Ken White, Chris Benton & Anthony Muhlstein - Newmark
The deal was facilitated by brokers Kevin Shannon, Bill Bauman, Ken White, Chris Benton, and Anthony Muhlstein from Newmark. They played a crucial role in representing both the buyer and seller throughout the transaction process.
On the Map
$67,900,000
$252/SF
Retail
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Players
Long Beach 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
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93