Updated Sep 9, 2024
Michael Fahimian & Jack Harris Represent Both Parties In Commerce Industrial Lease
6687 Flotilla Street, Commerce, CA, USA
Building Size
100,000 SF
Asset Type
Industrial
Closing
May 19, 2021
About this deal
AI
An industrial property in Commerce has been leased for a monthly rent of $0.90 per square foot, totaling $3,240,000 for a 100,000 square foot space. The transaction took place on May 20, 2021, and both the tenant and landlord were represented by Michael Fahimian and Jack Harris.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $3,240,000
The lease transaction in Commerce involved an industrial property with a total area of 100,000 square feet. The monthly rent for this space was set at $0.90 per square foot, resulting in a transaction amount of $3,240,000. Michael Fahimian and Jack Harris acted as representatives for both the tenant and landlord in this deal.
Players
Commerce 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