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12821 Knott Street Garden G...

Harbinger Motors Leases 165,171 SF Industrial Facility In Garden Grove With Colliers
LEASEDIndustrial

Harbinger Motors Leases 165,171 SF Industrial Facility In Garden Grove With Colliers

12821 Knott Street Garden Grove, California 92841, USA

Building Size

165,171 SF

Asset Type

Industrial

Closing

Aug 28, 2023

AI

Harbinger Motors Inc., an electric vehicle maker, has recently leased a 165,171-square-foot industrial facility located at 12821 Knott Street in Garden Grove. The lease transaction was facilitated by Clyde Stauff and Jace Gan of Colliers. The property is owned by Rexford Industrial and will serve as Harbinger Motors' base for customizing electric vehicles.

Summary of Transaction Details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Square Footage: 165,171
  • Address: 12821 Knott Street, Garden Grove
  • Market: Garden Grove
  • Landlord: Rexford Industrial
  • Tenant: Harbinger Motors Inc.
  • Brokers: Clyde Stauff & Jace Gan - Colliers

This lease agreement will enable Harbinger Motors to further its mission of producing innovative electric vehicles. The company has plans to hire over 160 individuals for technical and design roles, which will contribute to the local economy of Garden Grove. Harbinger Motors' decision to establish a presence in this industrial facility aligns with their strategy to expand and meet the growing demand for electric vehicles.

Players

Clyde Stauff

Colliers

Broker

$186.8M

vol

6 deals

Broker
Rexford Industrial
Rexford IndustrialLandlord

Comstock 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