7.4% cap rate NNN leased investment sold in Hollister California. The Lee Chang Group represented the seller, Lee Family Trust, in the sale of the property located at 100, 1620 and 1630 Lana Way. The transaction was valued at $6.6 million.
This NNN leased investment garnered a great deal of interest as soon as it hit the market. The lack of quality investments, strength of tenant, and low cap rates made this very attractive to investors. Lana Way is comprised of 110,515 sq ft of concrete tilt up and metal buildings situated on over 7 acres of land. The property features heavy power, excess trailer parking, heavy power and solar panels on the roof. The property is located in Hollister CA which is considered a secondary market in Northern CA. The tenant, San Benito Shutter Co., has been the tenant at this property for more than 10 years. At the time of the sale, the tenant had over seven years remaining on their lease.
The tenant, San Benito Shutter Co, was established in 1990 and began as a small wood shutter manufacturer based in Northern California. They are now one of the leading manufacturers of wood and poly panels and also one of the fastest growing distributors of wood, poly and hardware shutter components. In addition to their facility in Hollister, they also have a 44,000 sq ft distribution warehouse in Conyers, GA and 33,000 sq ft of distribution warehouses in southern CA and Texas.
The Lee Chang Group is a full service real estate brokerage that provides many professional services for its clients. Lee Chang will represent sellers, investors or buyers, landlords and tenants in real estate transactions throughout the Inland Empire. In addition to these services, the Lee Chang Group also provides commercial property valuations and commercial property dispositions.
Demand for properties within the Inland Empire will continue to outpace other areas of the country as more businesses chose to market their products via the Internet instead of brick and mortar companies. The demand for warehouse space or fulfilment centers that have access to national and international transportation will drive all different industries into this commercial area.
With a superior track record for creating the perfect deal for all parties involved, the Lee Chang Group continues to dominate the real estate industry as the “go-to” company for commercial real estate transactions within the Inland Empire.
Light Industrial Warehouse Property Details
- Tenant/Buyer: The Davies-Torrance Trust, dated November 16, 2004
- Landlord/Seller: Lee Family Trust, dated June 15, 2007
- Property Type: Light Industrial
- Region: Inland Empire West
- County: San Bernardino County
- City: Ontario, CA
- Property Size: 110,515 square foot
- Clear Ceiling Height: 22 ft
- Parking Spaces:
- Dock-High Doors/Loading: 1
- Drive In / Grade-Level Doors: 8
- Closest Freeways/Highways Exposure:Pomona Freeway (CA-60) and San Bernardino Freeway (I-10)
- Closest Ports:
- Value: $6,600,000
- Terms: sale
- NAI Capital, Lee Chang Group Agents: Richard Lee, Nicholas Chang, John Boyer
- Property Address: 1600, 1620 & 1630 Lana Way