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11751 Cabernet Dr, Fontana,...

Modus Furniture International Leases 231600 Square Feet At 11751 Cabernet Dr Fontana CA
LEASEDIndustrial

Modus Furniture International Leases 231600 Square Feet At 11751 Cabernet Dr Fontana CA

11751 Cabernet Dr, Fontana, CA, 92337

Building Size

231,600 SF

Asset Type

Industrial

Closing

Mar 28, 2017

AI

The lease at 11751 Cabernet Dr, Fontana, CA, 92337, encompasses a facility within the 140-acre Vintage Park East Industrial Park. This property has a total square footage of 231,600 and is situated in the Fontana market. The lease is valued at $6M, reflecting a five-year renewal by the tenant, Modus Furniture International.

Summary of transaction details:

  • Property Type: LEASE
  • Transaction Amount: $6M
  • Address: 11751 Cabernet Dr, Fontana, CA, 92337
  • Market: Fontana
  • Landlord: Vintage Park East LLC
  • Landlord's Representative: Kevin McKenna, Colliers International
  • Tenant: Modus Furniture International
  • Square Feet: 231,600

Colliers International, represented by Kevin McKenna for the landlord, played a vital role in this transaction, while a team consisting of executive vice presidents Stephen Bellitti and Thomas Taylor, along with vice president Summer Coulter, represented Modus Furniture International from Colliers' Ontario office. Modus also operates showrooms in High Point, N.C., and Las Vegas, in addition to the Fontana distribution center.

Players

Stephen Bellitti

Colliers

Broker

$521.9M

vol

7 deals

Broker
VL
Vintage Park East LLCLandlord

Fontana 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