Updated Dec 4, 2024
Sealy & Co. Renews Lease With World Wide Technology For 1.6 Million Square Feet In Edwardsville
3971 Lakeview Corporate Drive & 3951 Lakeview Corporate Drive
Building Size
1,649,707 SF
Asset Type
Industrial
Closing
Oct 10, 2024
About this deal
AI
The properties involved in the transaction are located at 3971 & 3951 Lakeview Corporate Drive in the Edwardsville market. These industrial assets encompass a total of 1,649,707 square feet and are designed for industrial, office, and lab use.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Landlord: William Shagets - Sealy & Co.
- Tenant: World Wide Technology (WWT)
- Brokers: Ed Lampitt & Matt Eastin - Cushman & Wakefield
This lease renewal was negotiated by William Shagets of Sealy & Co., partnering with Ed Lampitt and Matt Eastin from Cushman & Wakefield, who brought their expertise to the discussions. The properties have been a long-term base for World Wide Technology, emphasizing their continued commitment to the locations within Lakeview Commerce Center II and III.
Players
Edwardsville 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