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
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