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609 Science Drive

Fortress Investment Group Leases 135000 SF Industrial Space To Quantum Systems In Moorpark
LEASEDIndustrial

Fortress Investment Group Leases 135000 SF Industrial Space To Quantum Systems In Moorpark

609 Science Drive

$1

$1/SF

Building Size

135,000 SF

Asset Type

Industrial

Closing

Sep 25, 2024

AI

The property asset involved in the transaction is an industrial space located at 609 Science Drive in Moorpark. The asset encompasses a total square footage of 135,000 and is under a lease with an asking rent of $1.35 per square foot on a NNN lease basis for a duration of 6 years.

Summary of transaction details:

The transaction features key individuals such as Bennett Robinson, representing the landlord, Fortress Investment Group, and Grant Fulkerson along with Mike Tingus, representing the tenant, Quantum Systems. Each representative played a crucial role in facilitating the agreement between the involved parties.

Players

Mike Tingus

Lee & Associates

Broker

$297M

vol

24 deals

Broker

Moorpark 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

15863000.00%

Cash-on-Cash

-4533694.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93