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13521 Santa Ana Avenue

Updated Dec 4, 2024

GigaCloud Technology Secures 833,388 Sq Ft Lease In Fontana, CA From Link Logistics And Prologis
LEASEDIndustrial

GigaCloud Technology Secures 833,388 Sq Ft Lease In Fontana, CA From Link Logistics And Prologis

13521 Santa Ana Avenue & 10721 Jasmine Street

Building Size

833,388 SF

Asset Type

Industrial

Closing

Jan 16, 2024

About this deal

AI

GigaCloud Technology, a B2B platform, secured two leases totaling over 833,388 sq ft in Fontana, CA. The leases were for industrial assets owned by Prologis and Blackstone's Link Logistics. The properties are located at 13521 Santa Ana Avenue and 10721 Jasmine Street. This transaction highlights the strong presence of e-commerce in the Inland Empire region, with GigaCloud Technology headquartered in El Monte, CA.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Market: Fontana
  • Address: 13521 Santa Ana Avenue & 10721 Jasmine Street
  • Landlord: Luke J. Petherbridge - Link Logistics ; Hamid R. Moghadam - Prologis
  • Tenant: Larry Lei Wu - GigaCloud Technology

GigaCloud Technology, led by Larry Lei Wu, secured these leases for their expanding operations in Fontana. The company's choice to lease properties owned by Link Logistics and Prologis demonstrates their confidence in the market and the suitability of these assets for their business needs.

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Fontana Industrial Market Snapshot

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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

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