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325 Valley Drive

TriMark Expands And Extends Lease For 120,000 SF Industrial Space At 325 Valley Drive In Brisbane
LEASEDIndustrial

TriMark Expands And Extends Lease For 120,000 SF Industrial Space At 325 Valley Drive In Brisbane

325 Valley Drive

$23

$23/SF

Building Size

120 SF

Asset Type

Industrial

Closing

Apr 25, 2023

AI

A lease agreement has been signed for an industrial property located at 325 Valley Drive in Brisbane. The property, spanning 120,000 square feet, will be occupied solely by TriMark, the largest food service equipment dealer in the US. The lease, facilitated by listing agent Joe Harney of Reliance Real Estate Advisors, will commence in the spring of next year.

Summary of Transaction Details

  • Property Type: Industrial
  • Transaction Date: 04/25/2023
  • Address: 325 Valley Drive, Brisbane
  • Market: Brisbane

TriMark, known for its extensive range of food service equipment, has secured a lease for seven years, expanding and extending its current industrial footprint in Brisbane. With this new lease, TriMark will occupy a warehouse with 15 truck docks, approximately 80 parking spaces, and outdoor storage on a 5-acre lot. The lease agreement solidifies TriMark's position in the market and highlights its commitment to serving its customers in the area.

The landlord for the property is Valley 325 LP, while TriMark was represented by Jason Cranston from JLL. Joe Harney, from Reliance Real Estate Advisors, acted as the landlord's representative in the negotiation.

Players

Jason Cranston

JLL

Broker

2 deals

Broker

Millersville Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

689695.65%

Cash-on-Cash

-197117.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93