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3163 East Vernon Avenue

Greg Goodman Of Goodman Group Leases 350500 SF Industrial Space In Vernon To Archer
LEASEDIndustrial

Greg Goodman Of Goodman Group Leases 350500 SF Industrial Space In Vernon To Archer

3163 East Vernon Avenue

Building Size

350,500 SF

Asset Type

Industrial

Closing

May 9, 2025

AI

The leased property is an industrial asset located at 3049, 3095 & 3163 East Vernon Avenue in Vernon, covering a total square footage of 350,500. The deal involves the Goodman Group as the landlord.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Landlord: Greg Goodman - Goodman Group
  • Tenant: Eugene Kang - Archer
  • Facility Formerly: Farmer John plant
  • Planned Investment: $30 million for conversion
  • Partnership: Dodgers’ official meat snack provider

Greg Goodman represents Goodman Group in this transaction, while Eugene Kang represents Archer. Archer is expanding from San Bernardino and aims to keep the Dodger legacy associated with the facility alive following Farmer John’s exit in 2022.

Players

Vernon 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