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
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