Cap Rate: 5.53%
Annual Rent: $1,050,000
Term: 15 Years
Square Footage: 60,127
Lot Size: 2.8+/- AC
Year Built/Renovated: 1974/2016
The property consists of a single distribution warehouse building renovated in 2016 and located in Carson, California. The property is well located in the Los Angeles area near Highway 91 and I-110.
The property is leased to AMPAM Parks Mechanical under a new 15 year absolute NNN sale leaseback. The tenant has 3% annual increases in rent.
AMPAM Parks Mechanical is California’s #1 leading design-build plumbing subcontractor, specializing in high-density residential plumbing systems for major construction projects.
AMPAM houses all functions for its business other than field services in its corporate headquarters in Carson. All Administrative Functions, including Executive Management, HR, IT and Accounting. On the office operations sides all functions including Sales, Estimating, Design, Engineering, Pre-construction Planning and Customer Service. The Admin and Operations Functions are conducted in the office space at the facility. In the non-office area, space is used for warehousing inventory, manufacturing, fabrication and pre-fabrication and kitting for construction projects, and shipping and distribution to all the Company project job sites for final installation.
Carson is a city in Los Angeles County, California, located 13 miles south of downtown Los Angeles and approximately 14 miles away from the Los Angeles International Airport. Incorporated on February 20, 1968, Carson is the newest municipality in the South Bay region of Metropolitan Los Angeles.