Major Land Lease Transaction by Kidder Mathews
11.22 Ac Lease for $0.54 PSF NNN!!
Congrats to Jon Reno, Mark Vanis and Trevor Gale of Kidder Mathews who just represented Prologis (“Owner") in the leasing of an 11.22 Ac site at 2420 Yates Avenue in Commerce, CA.
The property was leased to Performance Team / Maersk for eight (8) years at $0.54 PSF NNN / land with three (3) months of free rent and four (4%) percent annual increases.
The project included a 126,482 SF building with fifty-two (52) loading doors and is centrally located in the City of Commerce one half (½) mile from the 5-Freeway on/off ramp.
The transaction value is estimated at $28M.