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18225 Butterfield Boulevard

Invesco Leases 85.5K SF Industrial Building To Pinnacle Exhibits In Morgan Hill
LEASEDIndustrial

Invesco Leases 85.5K SF Industrial Building To Pinnacle Exhibits In Morgan Hill

18225 Butterfield Boulevard

Building Size

85,500 SF

Asset Type

Industrial

Closing

Nov 7, 2023

AI

Invesco has leased an 85,500-square-foot building at the Butterfield 5 Technology Park in Morgan Hill, California, to Pinnacle Exhibits. The terms of the deal were not disclosed. The building is part of a larger industrial park that Invesco purchased in May 2022 for $119 million.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Address: 18225 Butterfield Boulevard, Morgan Hill, California
  • Market: Morgan Hill
  • Size: 85,500 square feet

The landlord for this lease is Invesco, represented by R. Scott Dennis. The tenant is Pinnacle Exhibits, represented by Brad Hogan. The deal was facilitated by brokers Chip Sutherland and Rob Shannon from CBRE.

Players

Chip Sutherland

CBRE

Broker

$45M

vol

3 deals

Broker
R. Scott Dennis

R. Scott Dennis

Invesco Real Estate

Landlord

$1.1B

vol

12 deals

Landlord

San Marcos 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