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1601 General Electric Road

TSR Concrete Coatings Leases 40,000-SF Industrial Space In Bloomington
LEASEDIndustrial

TSR Concrete Coatings Leases 40,000-SF Industrial Space In Bloomington

1601 General Electric Road

Building Size

40,000 SF

Asset Type

Industrial

Closing

Dec 13, 2023

AI

TSR Concrete Coatings, a ReVamp subsidiary, has leased a 40,000-square-foot industrial space at 1601 General Electric Road in Bloomington. The space will be used for the expansion of ReVamp Fencing. The property is located in a prime industrial area, making it a strategic choice for their operations.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: N/A
  • Square Footage: 40,000
  • Address: 1601 General Electric Road
  • Market: Bloomington

Meghan O’Neal-Rogozinski, representing AXIS 360, acted as the tenant representative for TSR Concrete Coatings. The undisclosed landlord was represented by John Cleary from Marquette Realty. Both parties negotiated the terms of the lease agreement to ensure a successful transaction.

Players

Meghan O’Neal-Rogozinski

AXIS 360 Commercial Real Estate Specialists

Broker

$11M

vol

8 deals

Broker

Electra 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