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1701 W Hawthorne Ln, West C...

MAPEI Corp. Leases Industrial Space At 1701 W Hawthorne Ln, West Chicago
LEASEDIndustrial

MAPEI Corp. Leases Industrial Space At 1701 W Hawthorne Ln, West Chicago

1701 W Hawthorne Ln, West Chicago...

Building Size

75,539 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

The industrial lease involves a space located at 1701 W Hawthorne Ln, West Chicago, with a total area of 75,539 square feet. The property is part of a 150,000-square-foot facility, currently occupied in part by Wise Plastics. The lease is executed between MAPEI Corp. and Blackstone Group, with specific representation from respective brokers.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 1701 W Hawthorne Ln, West Chicago
  • Market: West Chicago
  • Tenant: MAPEI Corp.
  • Landlord: Blackstone Group
  • Tenant's Representative: Michael Colhoun Jr.-Walker & Dunlop, Nicholas "Nick" Eboli-Lee & Associates
  • Landlord's Representative: Michael "Mike" Magliano-Cushman & Wakefield
  • Square Feet: 75,539

Lee & Associates facilitated the negotiation for MAPEI Corp., a company recognized for manufacturing adhesives, sealants, and other chemical products tailored for the building industry. The landlords, represented by Cushman & Wakefield, include owners from Cabot Properties and Blackstone Group.

Players

Michael Magliano

Cushman & Wakefield

Broker

$2.3M

vol

3 deals

Broker
Blackstone
BlackstoneLandlord

West Chicago 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