Elon Musk Of Tesla Leases 107,700 Square Feet Industrial Facility From Hamid R. Moghadam
2256 Junction Avenue
Building Size
107,700 SF
Asset Type
Industrial
Closing
Apr 17, 2026
AI
The property involved in this transaction is an industrial facility located at 2256 Junction Avenue in North San Jose, covering an area of 107,700 square feet. The lease for this asset was executed with Tesla as the tenant, and the landlord is Prologis.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2256 Junction Avenue
- Market: San Jose
- Square Footage: 107,700
- Landlord: Hamid R. Moghadam - Prologis
- Tenant: Elon Musk - Tesla
This lease will serve as a vehicle preparation and delivery hub for Tesla, facilitating operations such as servicing, software updates, and customer handoffs within the Bay Area logistics network.
Players
San Jose 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