facebook

traded

+ Submit
Home

/

Deals

/

Illinois

/

Industrial

/

Lease

/

410 Smoketree Plaza

Nova Medical Products Signs 91,956 SQ Ft Lease At Park 88 Logistics Center In North Aurora
LEASEDIndustrial

Nova Medical Products Signs 91,956 SQ Ft Lease At Park 88 Logistics Center In North Aurora

Building Size

91,956 SF

Asset Type

Industrial

Closing

Nov 15, 2023

AI

Nova Medical Products, a medical equipment manufacturer, has signed a lease agreement for a 91,956 sq ft industrial property in North Aurora, IL. The facility, located at 410 Smoketree Plaza, is part of the Park 88 Logistics Center and is classified as Class A. The lease was arranged by Lee & Associates and completion is expected in Q2 2024. With this relocation, Nova will occupy approximately 55% of the 165,928 sq ft facility, moving from their current location in McCook, IL.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: Not available
  • Address: 410 Smoketree Plaza
  • Market: North Aurora
  • Size: 91,956 sq ft

The landlord for the property is TradeLane Properties, with Neil P. Doyle representing the company. Sue Chen is the tenant, Nova Medical Products. NAI Hiffman, specifically Jack Brennan and John Whitehead, served as the landlord's representatives in the lease negotiation. On the tenant's side, John Cassidy and Kenneth Franzese, both from Lee & Associates, represented Nova Medical Products.

Players

Jack Brennan

NAI Global

Broker

$24.8M

vol

5 deals

Broker
Neil P. Doyle

Neil P. Doyle

TradeLane Properties

Landlord

$186.4M

vol

9 deals

Landlord

Market Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

Loading comparables…

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