Just Sold! 37,742 SF Multi-Tenant Office Building

Wednesday, June 25, 2014

Address2727 Hoover Avenue, National City, CA

Description: 7,742 SF Multiple Tenant Office Building

Summary of Sale:

Brian Jenkins and Mike Conger represented the buyer of 2727 Hoover
Ave., in National City. The Building was a former corporate headquarters
for The Corky McMillin Companies, and was sold as a 93% leased
investment, for a price of approximately $6.9m, with an escrow of
approximately 60 days. Tracy Clark and Kimberly Clark of Voit Real
Estate Services represented the seller.

Close of Escrow: 6/16/2014

Sale Price: Approximately $6,900,000 ($183/SF)

Proforma Cap Rate: Approximately 9.0%

Existing Cap Rate: Approximately 7.47%

Title/Escrow: First American Title

Buyer Representation: Brian Jenkins & Mike Conger (ECP Commercial)

Seller Representation: Tracy Clark & Kimberly Clark (Voit Real Estate Services)

Financing: Peter Litton (Comerica)

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