Newmark Facilitates 146,816 SF Industrial Lease In Ontario, CA To Logistar Inc
5700 East Airport Drive
Building Size
146,816 SF
Asset Type
Industrial
Closing
Jun 7, 2024
AI
The property involved in the transaction is an industrial asset located at 5700 East Airport Drive in Ontario, California. The property spans 146,816 square feet and is part of the Airport Distribution Center.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Address: 5700 East Airport Drive
- Market: Ontario
- Landlord: Alere Property Group
- Tenant: Logistar Inc
- Brokers: Mark Kegans & Ron Washle - Newmark
Newmark's Executive Managing Directors, Ron Washle and Mark Kegans, facilitated the lease agreement. Ron Washle highlighted the robust demand for distribution facilities in the Ontario/Inland Empire region due to its strategic location and superior transportation infrastructure. Mark Kegans emphasized the prime location and modern features of the Airport Distribution Center, making it an ideal choice for businesses looking to enhance their distribution capabilities in Southern California.
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