Kevin McKenna Of Colliers International Represents Molto Properties In Fontana Industrial Lease Deal
16477 Slover Ave, Fontana, CA, 92337
Building Size
190,554 SF
Asset Type
Industrial
Closing
Apr 22, 2021
AI
The newly built logistics center at 16477 Slover Ave in Fontana, California has been fully leased by Sell Below Cost USA to a China-based fulfillment firm. The 190,554-square-foot facility features 36-foot warehouse clearance, a 185-foot all-concrete truck court, 24 dock high doors, and nearly 7,000 square feet of office space. Situated less than a mile south of Interstate 10, the property is strategically located to access consumers across Southern California and within a six-hour drive of 55 million people.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Market: Fontana
- Landlord's Rep: Kevin McKenna (Colliers International)
- Landlord: Molto Properties
- Square Feet: 190554
- Tenant: Sell Below Cost USA
Kevin McKenna and Greg Merrill of Colliers represented Molto Properties in the lease transaction. The privately held developer, Molto, collaborated with LDC Industrial Realty to develop the state-of-the-art project. As per a Colliers representative, Sell Below Cost USA, a top 500 seller on Amazon.com, will utilize the fulfillment center for general product storage and delivery. The lease agreement highlights the surging interest in logistics spaces by fulfillment companies dealing with imports from China as trade activity at the Ports of Los Angeles and Long Beach escalates.
Players
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