Avis Budget Car Rental, LLC Leases 91541 Square Feet Industrial Space At 901 Bay Marina Drive
901 Bay Marina Drive
Building Size
91,541 SF
Asset Type
Industrial
Closing
Jul 17, 2024
AI
Located at 901 Bay Marina Drive in National City, California, this industrial asset encompasses 91,541 square feet. The property has recently become available and is noted for its strategic location within the southern San Diego industrial market, providing enhanced accessibility and various features suitable for industrial operations.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 901 Bay Marina Drive
- Market: National City
- Square Footage: 91,541
- Tenant: Avis Budget Car Rental, LLC
- Landlord's Rep: Brant Aberg - Cushman & Wakefield
- Tenant's Reps: Bill Dolan & Ryan Sparks - CBRE
- Occupancy Date: August 1, 2024
Cushman & Wakefield played a significant role in facilitating this lease transaction, highlighting its suitability for off-site car rental storage and fleet maintenance operations. The involvement of representatives from CBRE underscores a collaborative effort in securing the tenant for this property.
Players
National City Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
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