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15959 Piuma Avenue

Updated Jun 3, 2026

Nationwide Provides $33.5 Million Refinance For Karney Properties' Industrial Facility In Cerritos, CA
FINANCEDIndustrial

Nationwide Provides $33.5 Million Refinance For Karney Properties' Industrial Facility In Cerritos, CA

15959 Piuma Avenue

$33,500,000

$187/SF

Building Size

178,454 SF

Asset Type

Industrial

Closing

Jun 2, 2026

About this deal

AI

A $33.5 million fixed-rate refinance was arranged for a 178,454-square-foot Class A industrial facility located at 15959 Piuma Avenue in Cerritos, California. The property is owned by Karney Properties and is leased to an investment-grade logistics tenant, reflecting strong infill positioning and highway access in a market with high lender demand for industrial assets.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $33,500,000
  • Loan Type: Refinance
  • Lender: Nationwide
  • Landlord: Jeff Newman - Karney Properties
  • Market: Cerritos, CA
  • Asset Square Footage: 178,454
  • Brokers: Matt Stewart, Mark Wintner & Jacob Michael - JLL

JLL Capital Markets was instrumental in facilitating this refinance transaction, highlighting the ongoing interest from lenders in Southern California's industrial sector. The deal features representation by brokers Matt Stewart, Mark Wintner, and Jacob Michael, who played key roles in the arrangement.

On the Map

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$33,500,000

$187/SF

Industrial

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Players

Matt Stewart

JLL

Broker

$648M

vol

14 deals

Broker
Nationwide
NationwideLender
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Market Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

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Deal FAQ

About $187 per square foot on a published $33.5M for 178,454 square feet (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.47%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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