The Property is 100% NNN-leased to Frontier Communications (“Frontier” or “Tenant”) (NASDAQ: FTR) through September 2029. Frontier Communications is a publicly traded Fortune 500 telecommunications company providing service in 29 states. Frontier emerged from chapter 11 bankruptcy just before the transaction closed, and now is a much stronger company with $11 billion less debt and $1 billion less annual interest expense.
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Newmark Private Capital Group is pleased to have represented the seller in the successful disposition of Alton Deere 6. The Property consists of six, recently repositioned corporate office buildings totaling 188,714 rentable square feet and is located in the Irvine Business Complex within the dynamic Greater Airport Area submarket. Constructed between 1989 and 1990, and extensively renovated in 2017, AD/6 has been institutionally built, maintained and managed to the highest standards.
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Newmark is pleased to have represented the buyer, Cohen Asset Management, in the successful acquisition of 15100 S. San Pedro Street. Located in West Rancho Dominguez, the 32-foot clear building sits on 4.54 acres and is 100 percent leased to a large, credit tenant. Built in 2019, the state-of-the-art building is strategically located near LAX and the Ports of Los Angeles and Long Beach, and allows for immediate access to the 110, 105, 405, and 91 Freeways.
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