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
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