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10400 W North Ave, Melrose ...

Expeditors International Leases 669914 Square Feet From Bridge Industrial In Melrose Park
LEASEDIndustrial

Expeditors International Leases 669914 Square Feet From Bridge Industrial In Melrose Park

10400 W North Ave, Melrose Park, IL...

Building Size

669,914 SF

Asset Type

Industrial

Closing

Nov 19, 2023

AI

The property asset involved in the transaction is a new facility located at 10400 W North Ave, Melrose Park, IL, comprising a total square footage of 669,914. The market for this property is Melrose Park. It is part of the Bridge Point Melrose Park industrial development, which spans 87 acres and is currently 86% pre-leased.

Summary of transaction details:

Bridge Industrial announced the signing of two new leases at Bridge Point Melrose Park with CEVA Logistics and Expeditors International. Bridge secured a loan on the project from CIBC in 2021. Dan McGillicuddy, Charlie Kenning, and Brian Carroll of JLL represented Bridge in both transactions, while Jason Lev and Jimmy Kowalczyk of CBRE represented CEVA, with Jeffrey Kernochan and Andrew Mager of Fischer representing Expeditors.

Players

Brian Carroll

JLL

Broker

1 deal

Broker
Bridge Industrial
Bridge IndustrialBrokerage
Bridge Industrial
Bridge IndustrialLandlord

Melrose Park Industrial Market Snapshot

Boundary boundary · Industrial · 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