LaSalle Investment Management Acquires 60.1k SF Industrial Property In Fontana For $14.75M
8395 Sultana Avenue
$14,750,000
$245/SF
Building Size
60,102 SF
Asset Type
Industrial
Closing
Dec 20, 2023
AI
LaSalle Investment Management has acquired a 60,102-square-foot industrial property in Fontana for $14.75 million. The property, located at 8395 Sultana Ave, was sold by Stuart D. Heath. This acquisition adds to LaSalle Investment Management's expanding portfolio in Fontana, known for its diverse industrial facilities.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $14,750,000
- Square Footage: 60,102
- Price per Square Foot: $245
- Date: 12/20/2023
- Market: Fontana
- Buyer: LaSalle Investment Management - Mark Gabbay
- Seller: Stuart D. Heath
Mark Gabbay, representing LaSalle Investment Management, acted as the buyer's representative in this transaction.
Players
Fontana 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
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93