1140 Commerce Center Dr, Lancaster, CA for sale

Investment Overview

1140 Commerce Center Dr - Lancaster, CA 93534 The Offering: Seller/Lessor: Chase Lancaster Services, LP, a California limited partnership Tenant/Lessee: County of Los Angeles - Department of Children and Family Services Premises: 1140 Commerce Center Dr., Lancaster, CA 93534 APN: 3125-021-039 Building Size: Approximately 51,292 square feet of improvements Land Size: Approximately 4.84 AC (210,830 square feet) per LACo Assessor Base Rent: $141,053.00 per month @ $2.75 per square foot per month $1,692,636.00 per year scheduled Gross Income 3% Annual Rental Adjustments Tenant Improvements: As a condition of the Lease Agreement, Lessor has contributed $65.00/sqft or $3,333,980.00 in Tenant Improvement Cost. Lessee shall provide an additional $110.00/sqft or $5,642,120.00 amortized over 5 Years at an interest rate of 8% and payable at $114,401.85 per month ending on the 60th month of the Original Lease Term, unless Lessee pays off such loan earlier. Lease Type: Building Standard Lease Document provided by the County of Los Angeles and is a Full-Service Gross (FSG) lease. Misc. Terms: Lessee may pay-off the Lessee Improvement Loan (Allowance) as described above at any time, with no pre-payment penalty. Lessee may terminate the Lease Agreement after 8 Years by providing Lessor with a 240 Day prior Notice to Vacate. The Use of the Premises is for the General Offices for the Department of Children and Family Services. Preliminary Income / Expense Budget (see below)