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2005 W 43rd St, Chicago, IL...

National Express LLC Signs 98,840 SF Industrial Lease In Chicago Transaction
LEASEDIndustrial

National Express LLC Signs 98,840 SF Industrial Lease In Chicago Transaction

2005 W 43rd St, Chicago, IL, 60609

Building Size

98,840 SF

Asset Type

Industrial

Closing

Nov 22, 2023

AI

Located in Chicago, Illinois, the industrial property at 2005 W 43rd St spans 98,840 square feet. This space has been leased by National Express LLC, a transportation company relocating from the Fulton Market neighborhood to the city's South Side for better parking options. The lease commences in the second quarter of this year, facilitating the company's operational needs.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not provided
  • Market: Chicago
  • Landlord's Rep: Mitch Adams (CBRE), Nicole Mentone (CBRE)
  • Tenant: National Express LLC
  • Landlord: Avgeris & Associates
  • Square Feet: 98,840

Representing the landlord, Avgeris & Associates, in this lease transaction are Mitch Adams and Nicole Mentone from CBRE. On the other side of the deal, Chris Gary from NAI Hiffman served as the representative for National Express LLC, the tenant. This lease agreement underscores the strategic decision by National Express LLC to benefit from enhanced parking amenities in their new location.

Players

Mitch Adams

CBRE

Broker

2 deals

Broker
AA
Avgeris & AssociatesLandlord

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