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LBA Logistics Acquires Industrial Property In Franklin Park For $30.3M

Property Image
SOLD
$30,300,000

Illinois

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Industrial215,000 SF
Sold 09/21/2022
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Property Image
SOLD

LBA Logistics Acquires Industrial Property In Franklin Park For $30.3M

10600 Belmont Avenue, Franklin Park, Illinois 60131, United States

See Similar Deals
Industrial215,000 SF
Sold 09/21/2022
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$140
Total Square Footage:215,000 SF
Transaction Type:Sale

10600 West Belmont Avenue in Franklin Park has been sold in a recent transaction for $30,300,000. The industrial property spans 215,000 square feet, resulting in a price per square foot of $141. The sale was facilitated by Jeff Devine of Colliers, representing the buyer LBA Logistics, and Donald E. Huffner Jr. of James Campbell Company, representing the seller.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $30,300,000
  • Address: 10600 West Belmont Avenue, Franklin Park
  • Market: Franklin Park
  • Buyer: LBA Logistics
  • Seller: James Campbell Company - Donald E. Huffner Jr.
  • Broker: Jeff Devine - Colliers
  • Square Footage: 215,000
  • Price Per Square Foot: $141

This transaction showcases the successful collaboration between LBA Logistics, represented by Jeff Devine of Colliers, and James Campbell Company, represented by Donald E. Huffner Jr. These key individuals played pivotal roles in the successful sale of this industrial property at 10600 West Belmont Avenue in Franklin Park.

Players

Jeff Devine
Colliers
Jeff Devine
11 deals$696.3M volume
BROKER
LBA Logistics
LBA Logistics
BUYER
James Campbell Company
James Campbell Company
SELLER

Details

SOLD
IMAGE: Jeff Devine & Donald E. Huffner Jr. DATE: 09/21/2022 ADDRESS: 10600 West Belmont Avenue MARKET: Franklin Park ASSET TYPE: Industrial BUYER: LBA Logistics SELLER: James Campbell Company - Donald E. Huffner Jr. BROKER: Jeff Devine - Colliers SALE PRICE: $30,300,000 SF: 215,000 ~ PPSF: $141

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,615,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$107,649.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$143,637.46
Annual Debt Service$1,723,649.50