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7375 Boston Boulevard Sprin...

Costco Wholesale Acquires Office Building In Springfield, VA For $6.55M
SOLDOffice

Costco Wholesale Acquires Office Building In Springfield, VA For $6.55M

7375 Boston Boulevard Springfield, Virginia 22153, USA

$6,550,000

$242/SF

Building Size

27,000 SF

Asset Type

Office

Closing

Jun 6, 2023

AI

The office property located at 7375 Boston Boulevard in Springfield, VA has been sold. The transaction took place on 06/06/2023. The property was purchased by Costco Wholesale at a price of $6,550,000. The office building has a total area of 27,000 square feet, resulting in a price per square foot of $243. The seller of the property was Finmarc Management Inc, represented by David Fink.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $6,550,000
  • Square Footage: 27,000
  • Price Per Square Foot: $243
  • Address: 7375 Boston Boulevard, Springfield, VA
  • Market: Springfield, VA

David Fink, representing Finmarc Management Inc, acted as the seller in the transaction. Costco Wholesale was the buyer.

Players

David Fink

Finmarc Management Inc

Broker

$31.1M

vol

2 deals

Broker
FI
Finmarc Management, Inc.Buyer

David Fink

Seller

$31.1M

vol

2 deals

Seller

Springfield Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.42%

Cash-on-Cash

-0.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93