Updated Dec 4, 2024
Dornin Investment Group Leases 22k SF Industrial Space To Lee Bros. FoodServices In Garden Grove
7272 Lampson Avenue
$1
$1/SF
Building Size
22,074 SF
Asset Type
Industrial
Closing
Oct 15, 2024
About this deal
AI
The property located at 7272 Lampson Avenue in Garden Grove is an industrial asset. It features a total square footage of 22,074 and is being leased at a rate of $1.50 per square foot. The lease type for this transaction is classified as a NNN Lease, and the asset is positioned to accommodate industrial business needs.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: N/A
- Asking Rent: $1.50/ft
- Square Footage: 22,074
- Address: 7272 Lampson Avenue
- Market: Garden Grove
- Landlord: Chris Dornin
- Landlord's Representative: Philip R. Smith - Dornin Realty Advisors
- Lease Type: NNN Lease
- Lease Duration: 7 years
- Tenant: Lee Bros. FoodServices, Inc.
- Occupancy Status: 100%
Dornin Investment Group has finalized a lease agreement with Lee Bros. FoodServices, Inc., which specializes in food distribution. This lease brings the total occupancy of the building to 100%, highlighting the successful completion of this transaction.
Players
Garden Grove 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