Updated Dec 7, 2024
Howard's Leases 127540 Square Foot Industrial Space In City Of Industry For $11.1 Million
111 Baldwin Park Boulevard
Building Size
127,540 SF
Asset Type
Industrial
Closing
Dec 6, 2024
About this deal
AI
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.
On the Map
Industrial
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City of Industry 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