Updated Dec 4, 2024
36th Street Partners Acquires Industrial Property In Ontario With Buyer's Rep Brian Tressen
1804 East Elma Court & 1828 East Elma Court
$3,480,000
$100/SF
Building Size
17,360 SF
Asset Type
Industrial
Closing
Feb 27, 2024
About this deal
AI
The multi-tenant industrial property at 1804-1828 East Elma Court in Ontario, CA, was sold for $3.48 million. Spanning 17,360 square feet, the property consists of 13 units used for office and warehouse purposes, fully occupied and offering an opportunity for value creation through renovations to align rents with market rates. The location near Ontario International Airport adds to the property's appeal.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,480,000
- ACRES: 1.3
- Buyer: Adam Norvell - 36th Street Partners
- Buyer's Rep: Brian Tressen - Lee & Associates
- Seller's Rep: Tony Guglielmo - Allied Commercial Real Estate
The acquisition was facilitated by Brian Tressen from Lee & Associates, representing the buyer, Adam Norvell of 36th Street Partners. On the other side of the deal was Tony Guglielmo from Allied Commercial Real Estate, acting as the seller's representative. The transaction underscores the strategic investment approach taken by both the buyer and seller in the dynamic industrial real estate market.
Players
Ontario Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.56%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93