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
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:
- Property Type: Office
- Transaction Amount: Not mentioned
- Landlord: Ares Management
- Landlord's Representatives: Mark Kegans (Newmark), Ron Washle (Newmark)
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.
Players
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