Airport Plaza Office FOR SALE


$36,290,000 USD
310-491-2019
, Long Beach, CA for Sale
$36,290,000 USD
Office - FOR SALE
1/2
null | Request Cap Rate


HIGHLIGHTS

  • Secured, Stabilized Income Stream
  • Assumable 3.988% Interest Rate Loan
  • 6.8 Year WALT with Sticky Project Tenants and Current, Full Utilization
  • Medical Office Conversion Upside

OVERVIEW

Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the leasehold interest in Airport Plaza, a 150,727-square-foot, 100% leased two-building office campus with an in-place, assumable 3.988% interest rate loan. Located within the well performing Suburban Long Beach office market, Airport Plaza has direct access to the San Diego (405) Freeway, and superb regional access to both Los Angeles and Orange County. The fully renovated campus offers a secured in-place cash flow with average remaining lease terms of approximately 6.82 years with a solid credit tenant roster representing a diversity of industries including the City of Long Beach, Optum California (formerly Healthcare Partners), Food Allergy Institute and Traffic Management, Inc. The rent roll has no lease expirations in the first three years and only 15% expiring within the first five years. Airport Plaza’s 50-year ground lease terms are highly favorable with rent payments representing only 3.9% of the total project’s collected gross rents.

ASK ABOUT THIS PROPERTY

Michael MooreNewmarkMore Info
310-491-2019

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Michael MooreNewmarkMore Info
310-491-2019

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.