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
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