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16477 Slover Ave, Fontana, ...

Kevin McKenna Of Colliers International Represents Molto Properties In Fontana Industrial Lease Deal
LEASEDIndustrial

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:

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

Kevin McKenna

Colliers

Broker

$135M

vol

5 deals

Broker
MP
Molto PropertiesLandlord

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