Amazon Leases 1.2MSF Industrial Facility In Glendale, AZ For 10 Years
15301 West Northern Avenue
Building Size
1,200,000 SF
Asset Type
Industrial
Closing
Mar 22, 2024
AI
The leased property is a newly constructed 1.2 million-square-foot industrial facility located at 15301 West Northern Avenue in Glendale, Arizona. The property is part of The Cubes at Glendale and serves as the backdrop for Amazon's 10-year lease commitment.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord: CRG
- Tenant: Andy Jassy - Amazon
- Landlord's Rep: Bill Honsaker, Kelly Royle & John Lydon - JLL
- Tenant's Rep: Mike Freret - KBC Advisors
Bill Honsaker, Kelly Royle, and John Lydon from JLL represented the landlord, CRG, in securing the 10-year lease with Amazon's Andy Jassy. On the tenant side, Mike Freret from KBC Advisors served as Andy Jassy's representative in this significant industrial property transaction.
Players
Waddell Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93