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1390 Gateway Drive

Soosan USA Leases Industrial Space In Elgin IL With Tenant's Rep John Sharpe
LEASEDIndustrial

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

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:

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.

Players

Matt Garland

Cawley Chicago

Broker

10 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