Thor Equities Group Acquires Office Property In Rockville, MD For $45M
SOLD
$45,000,000
Maryland
See Similar DealsOffice231,000 SF
Sold 01/11/2022
SOLD
Thor Equities Group Acquires Office Property In Rockville, MD For $45M
9950 Medical Center Drive, Rockville, Maryland 20850, United States
See Similar DealsOffice231,000 SF
Sold 01/11/2022
Summary
MARYLAND
Asset Type:Office
Price Per Square Foot:$194
Total Square Footage:231,000 SF
Transaction Type:Sale
Located at 9950 Medical Center Drive in Rockville, MD, this office property features a total of 17 acres. The transaction took place on January 11, 2022, with a sale price of $45,000,000. The property spans 231,000 square feet, resulting in a price per square foot of $195.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $45,000,000
- Address: 9950 Medical Center Drive, Rockville, MD
The buyer in this transaction was Thor Equities Group, represented by Jack Sitt. Tommy Cleaver from CBRE acted as the seller's representative. The deal was closed in a successful transaction, highlighting the expertise of both the buyer and seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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