Premier Food Supplies, LLC Acquires Property From Villa Farms Distributing In Villa Park
12 Hill St, Villa Park, IL, 60181
Building Size
9,775 SF
Asset Type
—
Closing
Nov 22, 2023
AI
The property involved in the transaction is a 9,775 square foot cold storage facility located at 12 Hill St, Villa Park, IL, 60181. The property features 25-foot clear height ceilings with freezer, cooler, and dry storage space. Built in 2007, it is one of the only free-standing cold storage facilities of its size in the western suburbs of Villa Park.
Summary of transaction details:
- Property Type: Cold storage facility
- Transaction Amount: Not provided
- Buyer: Premier Food Supplies, LLC
- Seller: Villa Farms Distributing and Packaging, Inc.
- Market: Villa Park, Illinois
- Buyer's Rep: Mike Antonelli() representing Premier Food Supplies, LLC
Mike Antonelli, a partner of Brown Commercial Group, represented both the buyer, Premier Food Supplies, LLC, and the seller, Villa Farms Distributing and Packaging, Inc., in the off-market sale transaction. Premier Food Supplies, LLC, is a food distributor based in Troy, Michigan, and acquired the property to enhance its local customer service in Chicago. The acquisition of this warehouse location aligns with the firm's expansion strategies in the Midwest, ensuring efficient access to highways for customer reach in the Chicago area.
Players
Villa Park CRE Market Snapshot
Boundary boundary · CRE · Sale 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