Updated Dec 4, 2024
Blau & Berg Company Facilitates Lease For 197K SF Industrial Space In Franklin Park
3720 Des Plaines River Road
Building Size
197,000 SF
Asset Type
Industrial
Closing
Jan 22, 2024
About this deal
AI
A freight logistics company has leased almost 200,000 square feet of industrial space in Franklin Park, Illinois. The deal was facilitated by The Blau & Berg Co, a Short Hills-based team. The company secured the space from Prologis Inc, allowing them to expand their operations in the Midwest. The facility features 77 docks and 30-foot clear ceiling heights.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not specified
- Address: 3720 North River Road, Franklin Park, Illinois
- Market: Franklin Park
- Square Footage: 197,000
The landlord of the industrial space is Hamid R. Moghadam, who represents Prologis Inc. The landlord's representative in this deal is Calum Payne from CBRE. On the tenant's side, Alessandro Conte, Jason Crimmins, and Peter Murano represent the freight logistics company. They are from The Blau & Berg Company.
On the Map
Industrial
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Players
Franklin Park Industrial Market Snapshot
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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