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Howard's Leases 127540 Square Foot Industrial Space In City Of Industry For $11.1 Million
LEASED
California
See Similar DealsIndustrial127,540 SF
Leased 12/06/2024
LEASED
Howard's Leases 127540 Square Foot Industrial Space In City Of Industry For $11.1 Million
111 Baldwin Park Boulevard
See Similar DealsIndustrial127,540 SF
Leased 12/06/2024
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:127,540 SF
Transaction Type:Lease
An industrial asset located at 111 North Baldwin Park Boulevard, City of Industry, comprising a total area of 127,540 square feet has been leased. The lease agreement is valued at $11.1 million over a term of 68 months.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11.1 million
- Lease Term: 68-month
- Address: 111 North Baldwin Park Boulevard
- Market: City of Industry
- Landlord: Michael Tang
- Tenant: Peter Boutros - Howard's
- Brokers: Jack Nersesian, Nathan Lara, Nick Peukpiboon & Rudy Lara - Daum Commercial Real Estate Services
This transaction involved Howard's consolidating its previous locations in Pico Rivera and La Habra into this new headquarters and distribution center. The deal was facilitated by the brokerage team from Daum Commercial Real Estate Services, which played a significant role in the negotiations and closing of the lease.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$7,310,515.84
Total Lease Value
$73,105,158.37
Net Landlord Cash Flow$7,310,515.84
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