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
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