Rexford Industrial Acquires Commerce Property At 6687 Flotilla St For $21 Million
SOLD
$21,000,000
California
See Similar DealsIndustrial120,000 SF
SOLD
Rexford Industrial Acquires Commerce Property At 6687 Flotilla St For $21 Million
6687 Flotilla St, Commerce, CA, 90040
See Similar DealsIndustrial120,000 SF
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$175
Total Square Footage:120,000 SF
Transaction Type:Sale
The property involved in this transaction is located at 6687 Flotilla St, Commerce, CA 90040. The industrial facility was sold for $21,000,000.00 and boasts a total square footage of 120,000. The asset sits on five acres and features office space, clear heights ranging from 20 feet to 24 feet, extensive dock-high loading, and a large secured yard.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $21,000,000.00
- Address: 6687 Flotilla St, Commerce, CA 90040
- Market: Commerce
- Square Footage: 120,000
- Seller's Representatives: Evan Crawford - CBRE, Jack Mergenthaler - CBRE, Jeffrey Stephens - Compass
- Buyer: Rexford Industrial
Rexford Industrial acquired the facility from a private seller. The current occupant of the property is Color Image Apparel, a clothing manufacturing company based in Los Angeles. The seller was represented by the team of Evan Crawford, Jack Mergenthaler, and Jeffrey Stephens.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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