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345 Production Drive

Cory Kay & Michael DeSerto Finalize 10280 Square Foot Industrial Lease In South Elgin
LEASEDIndustrial

Cory Kay & Michael DeSerto Finalize 10280 Square Foot Industrial Lease In South Elgin

345 Production Drive

Building Size

10,280 SF

Asset Type

Industrial

Closing

Oct 22, 2024

AI

The property asset involved in the transaction is a freestanding industrial facility located at 345 Production Drive in South Elgin, Illinois. It encompasses a total area of 10,280 square feet and is now designated for use as a secondary location focused on overflow warehousing and distribution.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Square Footage: 10,280
  • Address: 345 Production Drive
  • Market: South Elgin
  • Lease Date: 10/22/2024

Cory Kay and Michael DeSerto from Entre Commercial Realty represented the client in finalizing the lease agreement. The property was on the market for less than 20 days before the successful leasing concluded.

Players

Michael DeSerto

Entre Commercial Realty

Broker

$4.1M

vol

10 deals

Broker

South Elgin 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