Updated Dec 4, 2024
Macy's Leases 272,000-SF Industrial Facility In Lathrop, California
3400 Yosemite Avenue
Building Size
272,000 SF
Asset Type
Industrial
Closing
Jan 17, 2024
About this deal
AI
Macy's has signed a long-term lease for a 272,000-square-foot logistics facility at 3400 W. Yosemite Ave. in the Phelan Lathrop Gateway industrial park, owned by Phelan Development. The property is strategically situated south of Sacramento and east of the Bay Area.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not mentioned
- Address: 3400 West Yosemite Avenue
- Market: Lathrop
- Size: 272,000 SF
The landlord of the property is Jeffrey F. Phelan from Phelan Development. The tenant, Macy's, will be occupying the facility. The deal was brokered by Jay Hagglund and Tyson Vallenari from Cushman & Wakefield.
On the Map
Industrial
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Players
Lathrop 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