Provender Partners Acquires Industrial Asset In Manteno, IL For $30M
SOLD
$30,000,000
Illinois
See Similar DealsIndustrial570,028 SF
Sold 10/22/2021
SOLD
Provender Partners Acquires Industrial Asset In Manteno, IL For $30M
1125 Sycamore Road, Manteno, IL, USA
See Similar DealsIndustrial570,028 SF
Sold 10/22/2021
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$52
Total Square Footage:570,028 SF
Transaction Type:Sale
The industrial property located at 1125 Sycamore Road in Manteno, Il has been sold for a total of $30,000,000. The property spans across 570,028 square feet, resulting in a price per square foot of $53. The sale transaction took place on October 22, 2021.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $30,000,000
- Address: 1125 Sycamore Road, Manteno, Il
- Square Footage: 570,028
- Price per Square Foot: $53
- Market: Manteno, Il
The buyer in this transaction was Provender Partners, represented by Neil A. Johnson. The seller of the property was Cardinal Industrial. The deal was facilitated by CBRE, serving as the broker for the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66
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