Updated Dec 4, 2024
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.
On the Map
Industrial
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Players
Fontana Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Deal FAQ
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