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Transwestern Acquires Development Site In Fontana For $13.5M

Property Image
SOLD
$13,454,550
Stephen (Steve) Bellitti
Scott Sanders
+ 5

California

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Development Site230,000 SF
Sold
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Property Image
SOLD

Transwestern Acquires Development Site In Fontana For $13.5M

8432 Almeria Ave, Fontana, CA, USA

See Similar Deals
Development Site230,000 SF
Sold
Stephen (Steve) Bellitti
Scott Sanders
+ 5
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$58
Total Square Footage:230,000 SF
Transaction Type:Sale

Transwestern has recently completed the sale of a development site in Fontana. The property, located at 8432 Almeria Ave, was sold for a total price of $13,454,550. The site spans approximately 230,000 square feet, resulting in a price per square foot of $58.

Summary of transaction details:

  • Property Type: Development site
  • Transaction Amount: $13,454,550
  • Address: 8432 Almeria Ave
  • Market: Fontana

The buyer in this transaction was Transwestern, with Larry Heard representing the company. The deal was facilitated by brokers Mike Kendall, Gian Bruno, Tom Taylor, Steve Bellitti, Scott Sanders, Joey Jones, and Matt Erickson.

Players

Gian Bruno
22 deals$2.3B volume(949) 724-5511
BROKER

Michael Kendall
Colliers
21 deals$2.3B volume
BROKER

Joey Jones
Colliers
4 deals$512.4M volume
BROKER

Matthew "Matt" Erickson
Re/Max
1 deal$13.5M volume
BROKER

Scott Sanders
1 deal$13.5M volume
BROKER

Stephen (Steve) Bellitti
Colliers
7 deals$521.9M volume(626) 512-2225
BROKER

Tom Taylor
CBRE
3 deals$356.5M volume
BROKER


BUYER

Details

SOLD
IMAGE: Larry Heard DATE: 10/22/2020 ADDRESS: 8432 Almeria Ave MARKET: Fontana ASSET TYPE: Development site BUYER: Transwestern - Larry Heard BROKERS: Mike Kendall, Gian Bruno, Tom Taylor, Steve Bellitti, Scott Sanders, Joey Jones, Matt Erickson SALE PRICE: $13,454,550 BSF: 230,000 ~ PPBSF: $58

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$717,576.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$47,801.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,781.43
Annual Debt Service$765,377.17