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300 Airport Road

UVA Distributors Renews & Expands Lease At Fox River Business Center In Elgin
LEASEDIndustrial

UVA Distributors Renews & Expands Lease At Fox River Business Center In Elgin

300 Airport Road

Building Size

106,120 SF

Asset Type

Industrial

Closing

Apr 26, 2024

AI

The industrial property at 300 Airport Road in Elgin, known as Fox River Business Center, was the site of a lease renewal and expansion transaction involving UVA Distributors, a wine and spirits distributor. The property, built in 2010, spans 176,799 square feet with a clear height of 30 feet. UVA Distributors renewed their existing 46,130 square feet unit and expanded by an additional 59,990 square feet.

Summary of transaction details:

The lease renewal and expansion deal at 300 Airport Road in Elgin was facilitated by Jeff Janda, John Cassidy, and Kenneth Franzese of Lee & Associates representing the owner, LINK Logistics. On the other side, Mike Berkowitz of Entre Commercial Realty assisted UVA Distributors in the transaction, ensuring a successful negotiation for the lease agreement.

Players

Jeffrey Janda

Lee & Associates

Broker

$37.7M

vol

28 deals

Broker

River Forest 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