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Airport Plaza 2 Office Properties Offered at $45,953,688 CAD in Long Beach, CA
INVESTMENT HIGHLIGHTS
- Secured, Stabilized Income Stream
- 6.8 Year WALT with Sticky Project Tenants and Current, Full Utilization
- Assumable 3.988% Interest Rate Loan
- Medical Office Conversion Upside
EXECUTIVE SUMMARY
MAJOR PRICE REDUCTION!
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 6.4 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.
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 6.4 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.
PROPERTY FACTS
| Price | $45,953,688 CAD | Number of Properties | 2 |
| Price / SF | $300.79 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 9% | Total Building Size | 152,776 SF |
| Sale Type | Investment | Total Land Area | 5.13 AC |
| Status | Active |
| Price | $45,953,688 CAD |
| Price / SF | $300.79 CAD / SF |
| Cap Rate | 9% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 152,776 SF |
| Total Land Area | 5.13 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Airport Plaza Bldg F
4900 Airport Plaza Dr, Long Beach, CA 90815 |
Office | 79,018 SF | 1987 | - |
|
Airport Plaza Bldg G
4910 Airport Plaza Dr, Long Beach, CA 90815 |
Office | 73,758 SF | 1987 | - |
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Airport Plaza
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