Updated Feb 14, 2025
CenterPoint Properties Signs Full-Building Lease With RJW Logistics Group For 976,954 SF In Joliet
2903 West Schweizer Road
Building Size
976,954 SF
Asset Type
Industrial
Closing
Feb 11, 2025
About this deal
AI
A full-building lease has been signed by CenterPoint Properties with RJW Logistics Group for an industrial facility located at 2903 West Schweizer Road in Joliet, Illinois. The property encompasses 976,954 square feet and is situated within the 6,400-acre CenterPoint Intermodal Center.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not Disclosed
- Address: 2903 West Schweizer Road
- Market: Joliet
- Asset Size: 976,954 SF
- Landlord: Bob Chapman - CenterPoint Properties
- Tenant: Kevin Williamson - RJW Logistics Group
- Broker Representatives: Adam Roth & Daniel Leahy - NAI Hiffman
This transaction occurs during a period of notably declined industrial leasing activity in Chicago, with a year-over-year decrease of 25.8% in 2024. The number of large deals over 250,000 square feet has dropped from 26 to 16.
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Industrial
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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