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1320 Gateway Drive

Lee & Associates Negotiates 53,000 SF Warehouse Lease In Elgin For Bullfrog International
LEASEDIndustrial

Lee & Associates Negotiates 53,000 SF Warehouse Lease In Elgin For Bullfrog International

1320 Gateway Drive

Building Size

53,000 SF

Asset Type

Industrial

Closing

Mar 21, 2024

AI

The industrial property at 1320 Gateway Drive in Elgin, IL, spanning 53,000 square feet, was leased to Bullfrog International. This warehouse, secured by Big Box Property Owner C, LLC, facilitated Bullfrog's expansion in the Midwest market and offered essential amenities to support their operations.

Summary of transaction details:

Lee & Associates played a crucial role in negotiating the 53,000-square-foot warehouse lease for Bullfrog International at 1320 Gateway Drive. The deal was successfully facilitated by Michael Petrik, Rick Scardino, and Sean Bishop from Lee & Associates as the tenant's representatives, along with Jeff Matella from Cushman & Wakefield acting as the landlord's representative.

Players

Rick Scardino

Lee & Associates

Broker

$11.8M

vol

21 deals

Broker

Elgin 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