Updated Oct 28, 2024
Iconic Equities And Leste Real Estate Acquire Industrial Outdoor Storage In Inland Empire For $11.9M
8247 Lime Ave, Fontana, CA 92335, USA
$11,885,000
Building Size
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Asset Type
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Closing
Jun 12, 2022
About this deal
AI
The Industrial Outdoor Storage (IOS) property located at 8247 Lime Ave. in Inland Empire has been sold. The transaction took place on June 13, 2022. The property spans across 5.66 acres and is valued at $11,885,000, resulting in a price per land square foot of $48. The sale was facilitated by Tim Bishop and Leste Real Estate on behalf of Iconic Equities, in collaboration with a large institutional investor. The seller of the property was the Kirschner Company.
Summary of Transaction Details
- Property Type: Industrial Outdoor Storage (IOS)
- Transaction Amount: $11,885,000
- Acres: 5.66
- Price per Land Square Foot: $48
- Buyer: Iconic Equities - Tim Bishop & Leste Real Estate
- Seller: Kirschner Company
This acquisition is part of a $400 million venture focused on Industrial Outdoor Storage (IOS) properties. The collaboration includes Iconic Equities, Leste Real Estate, and a large institutional investor. For inquiries regarding future IOS acquisitions on the West Coast, interested parties can contact Ty Wiest at [email protected].
Players
Fontana CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93