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1340 Louis Ave, Elk Grove V...

House Of India Leases 9990 SF Industrial Space On Louis Ave, Elk Grove Village
LEASEDIndustrial

House Of India Leases 9990 SF Industrial Space On Louis Ave, Elk Grove Village

1340 Louis Ave, Elk Grove Village, IL...

Building Size

9,990 SF

Asset Type

Industrial

Closing

May 13, 2019

AI

The industrial asset involved in the lease transaction is located at 1340 Louis Ave, Elk Grove Village, Illinois. The property spans 9,990 square feet and serves as the new location for House of India, a dry Indian food distributor. House of India sought a larger space with additional docking capabilities, leading them to sublease this property after more than tripling the space they previously occupied in Bensenville, Illinois. The deal was facilitated by Matt Hanson from Brown Commercial Group, representing the tenant, and Nick Krejci from Darwin Realty, representing the building owner.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 1340 Louis Ave, Elk Grove Village, IL
  • Market: Elk Grove Village
  • Tenant's Rep: Matt Hanson (Brown Commercial Group)
  • Tenant: House of India
  • Landlord: Unknown
  • Square Feet: 9,990

In this lease transaction, Matt Hanson from Brown Commercial Group played a key role in representing House of India as they secured a larger space for their operations. House of India's move to Elk Grove Village marked a significant expansion for the dry Indian food distributor, showcasing their growth and increased operational needs. On the other side, Nick Krejci from Darwin Realty acted as the representative for the undisclosed landlord, ensuring a successful sublease agreement for the 9,990 square feet industrial property.

Players

Matthew Hanson

Brown Commercial Group

Broker

$3.1M

vol

11 deals

Broker

Elk Grove Village 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