Lee & Associates Brokers 210K SF Industrial Lease In Melrose Park
2424 Armitage Avenue
Building Size
210,524 SF
Asset Type
Industrial
Closing
Mar 15, 2024
AI
An industrial building spanning 210,524 square feet located at 2424 Armitage Avenue in Melrose Park was leased in a recent transaction. The property boasts a prime location in the Melrose Park market, ideal for industrial purposes.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 2424 Armitage Avenue
- Market: Melrose Park
- Size: 210,524 square feet
The lease deal was successfully brokered by Jeffrey Provenza of Lee & Associates and Colin Green of CBRE. Provenza represented the tenant, CCS Contractor Equipment & Supply LLC, while Green served as the landlord's representative, representing Armitage 2525 LLC. Provenza highlighted the advantage of Melrose Park's labor force, making it an attractive location for his client.
Players
Melrose Park 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