Updated Oct 28, 2024
Nitze-Stagen Acquires Office Building In Lynnwood, WA For $46M
20700 44th Avenue West, Lynnwood, Washington 98037, United States
$46,000,000
$264/SF
Building Size
173,775 SF
Asset Type
Office
Closing
Sep 5, 2022
About this deal
AI
The office building located at 20700 44th Ave West in Lynnwood, WA has been sold for a price of $46,000,000. The property spans a total area of 173,775 square feet, resulting in a price per square foot of $265. The buyer in this transaction was Nitze-Stagen, while the seller was Hudson Pacific Properties Inc. Newmark served as the broker.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $46,000,000
- Address: 20700 44th Ave West, Lynnwood, WA
- Market: Lynnwood, WA
- Buyer: Nitze-Stagen
- Seller: Hudson Pacific Properties Inc
- Broker: Newmark
- Square Footage: 173,775
- Price per Square Foot: $265
The transaction involved key players including Nitze-Stagen as the buyer, Hudson Pacific Properties Inc as the seller, and Newmark as the broker. This sale marks a significant milestone in the office market in Lynnwood, WA.
Players
Lynnwood 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93