Updated Dec 27, 2024
Virco Manufacturing Renews 65-Month Lease For 559000-SF Industrial Facility In Torrance
2027 Harpers Way
Building Size
559,000 SF
Asset Type
Industrial
Closing
Dec 12, 2024
About this deal
AI
An industrial property located at 2027 Harpers Way in the Torrance market was leased for a total area of 559,000 square feet. This facility is owned by Prologis, a leading logistics real estate investment trust.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Disclosed
- Address: 2027 Harpers Way
- Market: Torrance
- Lease Term: 65 months
- Landlord: Hamid Moghadam - Prologis
- Tenant: Robert A. Virtue - Virco Manufacturing
- Brokers: David Prior, Todd Taugner & Frank Schulz - The Klabin Company
The leasing transaction saw Virco Manufacturing renewing its lease for the space, with plans to install solar panels in the coming year. The Klabin Company acted as the representative for both Prologis and Virco Manufacturing in this deal, facilitating the negotiation and agreement process.
On the Map
Industrial
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Torrance 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