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2614 Brandon Road

Clear Height Properties Leases 20384 SF Industrial Facility In Joliet Represented By Lee & Associates
LEASEDIndustrial

Clear Height Properties Leases 20384 SF Industrial Facility In Joliet Represented By Lee & Associates

2614 Brandon Road

Building Size

20,384 SF

Asset Type

Industrial

Closing

Feb 18, 2025

AI

The property asset involved in the context is a 20,384 square foot industrial outside storage (IOS) facility located at 2614 Brandon Road in Joliet, IL. This facility is situated on a five-acre site within the Joliet market, representing a significant industrial asset.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Square Footage: 20,384
  • Address: 2614 Brandon Road
  • Market: Joliet
  • Landlord: Dominic Sergi - Clear Height Properties
  • Landlord's Representative: Dylan Maher & Michael O’Leary - Lee & Associates
  • Tenant's Representative: Brian Morken - Morken & Associates

The deal was facilitated by Lee & Associates, who previously brokered the initial purchase and capital improvements for Clear Height Properties. Brian Morken, representing a regional trucking and logistics company, successfully negotiated on behalf of the tenant in this transaction.

Players

Michael O’Leary

Lee & Associates

Broker

5 deals

Broker

Dominic Sergi

Clear Height Properties

Landlord

$76.2M

vol

7 deals

Landlord

Joliet 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