Principal Real Estate Investors Leases Industrial Property To Banyan Imports In Ontario
3351 E Philadelphia St, Ontario, CA, 9...
Building Size
203,408 SF
Asset Type
Industrial
Closing
May 14, 2021
AI
The industrial property located at 3351 E Philadelphia St, Ontario, CA, boasts a generous 203,408 square feet. The lease transaction dated 05/14/2021 involved Banyan Imports as the tenant and Principal Real Estate Investors as the landlord.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 3351 E Philadelphia St, Ontario, CA
- Market: Ontario
- Landlord's Rep: Mark Kegans (Newmark), Ron Washle (Newmark)
- Tenant: Banyan Imports
- Landlord: Principal Real Estate Investors
- Square Feet: 203,408
Mark Kegans and Ron Washle from Newmark represented the landlord, Principal Real Estate Investors, in the lease transaction with Banyan Imports. This agreement marks a significant deal in the industrial real estate sector in Ontario, highlighting the strategic decisions made by the involved parties.
Players
Ontario 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