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657 West Nance Street

Updated Dec 12, 2024

Ares Management Leases 864,000 SF Office In Perris, CA
LEASEDOffice

Ares Management Leases 864,000 SF Office In Perris, CA

657 West Nance Street

Building Size

864,000 SF

Asset Type

Office

Closing

Nov 20, 2023

About this deal

AI

The Perris Distribution Center in Perris, California, has seen a lease renewal by NFI Industries, a supply chain solutions provider, for its 864,000-square-foot office space. The property, located at 657 W Nance St, features a two-story, cross-dock facility that is expandable to 1.1 million square feet. It offers 7,000 square feet of office space, minimum 36-foot warehouse clearance, ESFR sprinkler systems, LED warehouse lighting, 112 dock-high loading doors, and concrete truck courts. Additionally, the 43-acre parcel provides ample parking with 298 auto parking spaces and 224 trailer parking spaces.

Summary of transaction details:

Mark Kegans, Ron Washle, and Dean Washle, representing Ares Management, facilitated the lease renewal between NFI Industries and the landlord. The property, known as the Perris Distribution Center, not only boasts extensive square footage but also offers modern amenities aimed at enhancing the tenant's operational efficiency. With its strategic location and well-equipped features, the lease renewal signifies a continued partnership between the tenant and the landlord.

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Players

Ron Washle

Newmark

Broker

6 deals

Broker
Ares Management
Ares Management Lender
Ares Management
Ares Management Landlord
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Perris Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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