Updated Dec 4, 2024
Soosan USA Leases Industrial Space In Elgin IL With Tenant's Rep John Sharpe
1390 Gateway Drive
Building Size
15,520 SF
Asset Type
Industrial
Closing
May 9, 2024
About this deal
AI
The industrial property at 1390 Gateway Drive Suites 5 & 6 in Elgin, IL, spans 15,520 square feet. The lease was facilitated by Lee & Associates for Soosan USA, a company specializing in hydraulic breakers, compactors, and crawler drills. The landlord, Dominic A. Sergi of Clear Height Properties, enlisted the services of Matt Garland of Cawley Chicago as the landlord's representative.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Address: 1390 Gateway Drive Suites 5 & 6
- Market: Elgin
- Tenant: Soosan USA
- Tenant's Representative: John Sharpe - Lee & Associates
- Landlord: Dominic A. Sergi - Clear Height Properties
- Landlord's Representative: Matt Garlandof - Cawley Chicago
The new lease of manufacturing space at 1390 Gateway Drive was successfully brokered by John Sharpe and Rick Anesi of Lee & Associates representing Soosan USA, while Matt Garland of Cawley Chicago acted on behalf of Clear Height Properties, the property owner.
On the Map
Industrial
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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