LAX Freight Delivery Leases 123,138 SF Industrial Building In Commerce, California
2187 Garfield Avenue
Building Size
123,138 SF
Asset Type
Industrial
Closing
Oct 17, 2023
AI
The third-party logistics firm LAX Freight Delivery has recently leased a 123,138-square-foot industrial building located at 2187 Garfield Avenue in Commerce, California. This lease transaction exemplifies the robust demand for industrial space in the Los Angeles area. The property, boasting its unique features for supply chain logistics companies, such as cross-dock loading and low coverage, proves to be an appealing choice for LAX Freight Delivery.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Address: 2187 Garfield Avenue
- Market: Commerce
- Square Footage: 123,138
The landlord of the leased property is a partnership between Staley Point Capital, represented by Kevin Staley, and Bain Capital Real Estate, represented by Dan Cummings. On the tenant side, LAX Freight Delivery secured the lease agreement. The negotiations were facilitated by Jon Reno, Mark Vanis, Sage Segal, and Trevor Gale from JLL, serving as the landlord's representatives. As for the tenant's representation, Marc DiGennaro from Lee & Associates acted on behalf of LAX Freight Delivery.
Players
Commerce 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