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LaSalle Investment Management Acquires 60.1k SF Industrial Property In Fontana For $14.75M

Property Image
SOLD
$14,750,000

California

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Industrial60,102 SF
Sold 12/20/2023
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SOLD

LaSalle Investment Management Acquires 60.1k SF Industrial Property In Fontana For $14.75M

8395 Sultana Avenue

See Similar Deals
Industrial60,102 SF
Sold 12/20/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$245
Total Square Footage:60,102 SF
Transaction Type:Sale

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

JLL
JLL
BROKERAGE
MG
JLL
Mark Gabbay
17 deals$751.6M volume
BUYER

Details

SOLD
IMAGE: Mark Gabbay DATE: 12/20/2023 ADDRESS: 8395 Sultana Avenue MARKET: Fontana ASSET TYPE: Industrial BUYER: LaSalle Investment Management (@LaSalleIM) - Mark Gabbay SELLER: Stuart D. Heath SALE PRICE: $14,750,000 SF: 60,102 ~ PPSF: $245 NOTE: LaSalle Investment Management has purchased a 60,102-square-foot industrial property in Fontana for $14.75 million. Located at 8395 Sultana Ave, the site, occupied by California Cascade, expands the firm's growing portfolio in the area known for various industrial facilities.

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

$786,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$52,403.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$69,922.53
Annual Debt Service$839,070.30