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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 300 Airport Road
- Market: Elgin
- Square Footage: 106,120
- Landlord: Luke J. Petherbridge - LINK Logistics
- Tenant: UVA Distributors
- Landlord's Rep: Jeffrey (Jeff) Janda, John Cassidy & Kenneth Franzese - Lee & Associates
- Tenant's Rep: Michael Berkowitz - Entre Commercial Realty
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
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