Young Kim Acquires Industrial Asset At 3385 Leonis Boulevard For $22 Million With Tim Wallace As Buyer's Rep
3385 Leonis Boulevard
$22,000,000
$399/SF
Building Size
55,136 SF
Asset Type
Industrial
Closing
Dec 31, 2024
AI
The industrial property located at 3385 Leonis Boulevard in Vernon features a total square footage of 55,136. The asset was sold for a price of $22,000,000, resulting in a price per square foot of $399.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $22,000,000
- Address: 3385 Leonis Boulevard
- Market: Vernon
- Square Footage: 55,136
- Price per Square Foot: $399
- Buyer: Young Kim
- Seller: Lily Chang
- Buyer's Representative: Tim Wallace - Cushman & Wakefield
- Seller's Representatives: Tony Naples & Mattison Behr - Lee & Associates
The transaction was facilitated by Tim Wallace acting on behalf of the buyer, Young Kim, while the seller, Lily Chang, was represented by Tony Naples and Mattison Behr from Lee & Associates.
Players
Vernon 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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93