Updated May 12, 2025
Foreman Lam Acquires Industrial Property From Chin Zong Tsai In Covina For $20.85M
753 Arrow Grand Circle
$20,848,314
$287/SF
Building Size
72,500 SF
Asset Type
Industrial
Closing
Mar 28, 2025
About this deal
AI
The asset involved in this sale is an industrial property located at 753 Arrow Grand Circle in Covina. The transaction amount was $20,848,314 for a total square footage of 72,500, resulting in a price per square foot of $287.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $20,848,314
- Square Footage: 72,500
- Price per Square Foot: $287
- Buyer: Foreman Lam
- Seller: Chin Zong Tsai
- Broker Representatives: Justin Chiang & Kevin Ching - Lee & Associates
- Transaction Date: 03/28/2025
- Market: Covina
This transaction involved Foreman Lam as the buyer and Chin Zong Tsai as the seller, with representation from brokers Justin Chiang and Kevin Ching from Lee & Associates, who facilitated the deal.
On the Map
$20,848,314
$287/SF
Industrial
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Players
Covina 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93