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2550 Northwest Pkwy, Elgin,...

Marketing Alternatives, Inc. Leases 117748 Square Feet At 2550 Northwest Pkwy Elgin From Stockbridge Capital Group
LEASED

Marketing Alternatives, Inc. Leases 117748 Square Feet At 2550 Northwest Pkwy Elgin From Stockbridge Capital Group

2550 Northwest Pkwy, Elgin, IL, 60124

Building Size

117,748 SF

Asset Type

Closing

Nov 19, 2023

AI

The property asset involved in this transaction is located at 2550 Northwest Pkwy, Elgin, IL, 60124, within the Elgin market. The total square footage of the property is 117,748 square feet and it involves a lease agreement.

Summary of transation details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Square Feet: 117,748
  • Address: 2550 Northwest Pkwy, Elgin, IL, 60124
  • Market: Elgin
  • Tenant: Marketing Alternatives, Inc.
  • Landlord: Stockbridge Capital Group
  • Tenant's Representative: David Bercu-Colliers International
  • Landlord's Representative: John Sharpe-Lee & Associates

The key individuals involved in this transaction include David Bercu representing Marketing Alternatives, Inc. and John Sharpe representing Stockbridge Capital Group. These representatives played crucial roles in facilitating the lease agreement between the tenant and landlord.

Players

David Bercu

Colliers

Broker

2 deals

Broker
NAI Global
NAI GlobalBrokerage
Stockbridge
StockbridgeLandlord

Elgin CRE Market Snapshot

Boundary boundary · CRE · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93