Truist Securities Acquires Office Property In Federal Way, WA For $93.5M
SOLD
$93,500,000
Washington
See Similar DealsOffice160,493 SF
Sold 06/09/2022
SOLD
Truist Securities Acquires Office Property In Federal Way, WA For $93.5M
3201 South 323rd Street, Federal Way, Washington 98001, United States
See Similar DealsOffice160,493 SF
Sold 06/09/2022
Summary
WASHINGTON
Asset Type:Office
Price Per Square Foot:$582
Total Square Footage:160,493 SF
Transaction Type:Sale
The office property located at 3201 South 323rd Street in Federal Way, WA has been sold in a transaction. The property spans approximately 11.2 acres and has a total of 160,493 square feet of space. The sale of the property was completed on 06/09/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $93,500,000
- Price Per Square Foot: $583
- Address: 3201 South 323rd Street, Federal Way, WA
- Market: Federal Way, WA
The buyer in this transaction was Truist Securities, while the seller was DaVita Inc. The deal was facilitated by Scott Briggs from Stan Johnson Co.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,986,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$332,185.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$443,237.70
Annual Debt Service$5,318,852.42
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