Jensen-Souders And Associates Expands Lease To 105000 SF At 3905-3925 Morriem Drive In Belvidere
3905 Morriem Drive
Building Size
105,000 SF
Asset Type
Industrial
Closing
Sep 16, 2025
AI
The asset involved in this transaction is an industrial property located at 3905-3925 Morriem Drive in Belvidere, with a total square footage of 105,000. The property is leased by Jensen-Souders and Associates, which has recently expanded its lease to occupy the entire building.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Square Footage: 105,000
- Address: 3905-3925 Morriem Drive
- Market: Belvidere
- Landlord: Stag Industrial
- Tenant: Katie Pogue - Jensen-Souders and Associates
- Landlord's Representative: Shane Van Sickle - LandMark Real Estate Group
- Tenant's Representatives: Jeff Janda & Jeff Galante - Lee & Associates
This lease transaction highlights the involvement of key representatives, with Jeff Janda and Jeff Galante from Lee & Associates acting on behalf of the tenant, while Shane Van Sickle from LandMark Real Estate Group represented the landlord, Stag Industrial, in the agreement.
Players
Belvidere 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