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Howard Schwimmer Of Rexford Industrial Realty Acquires Industrial Property In Ontario For $26.7M

Property Image
SOLD
$26,700,000
Rebecca Perlmutter Finkel
Darla Longo
Barbara (Emmons) Perrier
+ 3

California

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Industrial88,283 SF
Sold 04/23/2024
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Property Image
SOLD

Howard Schwimmer Of Rexford Industrial Realty Acquires Industrial Property In Ontario For $26.7M

4422 East Airport Drive

See Similar Deals
Industrial88,283 SF
Sold 04/23/2024
Rebecca Perlmutter Finkel
Darla Longo
Barbara (Emmons) Perrier
+ 3
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$302
Total Square Footage:88,283 SF
Transaction Type:Sale

The industrial property located at 4422 East Airport Drive in Ontario was sold for $26,700,000. Spanning 88,283 square feet, the building was acquired by Rexford Industrial Realty Inc. The transaction price equates to $302 per square foot in the Ontario market.

Summary of transaction details:

The sale of the 88,283-square-foot industrial property at 4422 East Airport Drive in Ontario was facilitated with the involvement of Howard Schwimmer from Rexford Industrial Realty Inc. leading the purchasing team. On the selling side, the transaction was represented by Barbara Perrier, Darla Longo, and Rebecca Perlmutter Finkel from CBRE.

Players

Darla Longo
CBRE
Darla Longo
22 deals$1.3B volume(909) 418-2105
BROKER
Barbara (Emmons) Perrier
CBRE
Barbara Perrier
36 deals$1.8B volume(818) 481-2374
BROKER
Rebecca Perlmutter Finkel
CBRE
Rebecca Perlmutter Finkel
17 deals$1.1B volume
BROKER
Ryan Leslie
Rexford Industrial
Ryan Leslie
1 deal$26.7M volume(310) 424-5735
BROKER
Christina Hwa
Rexford Industrial
Christina Hwa
1 deal$26.7M volume(310) 966-1680
BROKER
Corey Guerrero
Rexford Industrial
Corey Guerrero
1 deal$26.7M volume
BROKER

Details

SOLD
IMAGE: 04/23/2024 ADDRESS: 4422 East Airport Drive MARKET: Ontario ASSET TYPE: Industrial BUYER: Howard Schwimmer - Rexford Industrial Realty Inc. BUYER'S REP: Christina Hwa, Corey Guerrero & Ryan Leslie - Rexford Industrial SELLER'S REP: Barbara Perrier, Darla Longo & Rebecca Perlmutter Finkel - CBRE SALE PRICE: $26,700,000 SF: 88,283 ~ PPSF: $302 NOTE: Rexford Industrial Realty Inc., specializing in Southern California industrial properties, purchased 4422 Airport Dr. in Ontario, Inland Empire – West submarket, for $26.7 million ($303 per square foot), as revealed in its Q1 earnings report. The 88,283-square-foot building, fully leased to two tenants, offers a 5.5% initial unlevered stabilized yield and is situated alongside other Rexford-owned properties, with CBRE brokers facilitating the transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,423,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$94,859.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$126,571.62
Annual Debt Service$1,518,859.46