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
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