Updated Dec 4, 2024
Amstar Group Acquires Two Industrial Warehouses From Prologis For $106.5 Million In Illinois
1860 West Jefferson Avenue & 1101 Taylor Road
$106,500,000
$38/SF
Building Size
1,370,000 SF
Asset Type
Industrial
Closing
Oct 8, 2024
About this deal
AI
Two warehouses located at 1860 West Jefferson Avenue in Naperville and 1101 Taylor Road in Romeoville, Illinois, have been sold for a combined price of $106,500,000. The properties encompass a total of 1,370,000 square feet, translating to a price per square foot of $78. The Naperville property, leased to Crate & Barrel, was sold for $54.4 million, while the Romeoville site, which is leased to logistics company Geodis, sold for $52.1 million.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $106,500,000
- Buyer: Amstar Group
- Seller: Hamid Moghadam - Prologis
- Brokers: Adam Tyler & Michael Tenteris - Cushman & Wakefield
- Lender: HFI Global
The transaction was a strategic move by Prologis to divest non-strategic assets. The involvement of Cushman & Wakefield as brokers facilitated the deal, with Adam Tyler and Michael Tenteris representing the sellers during this transaction.
On the Map
$106,500,000
$38/SF
Industrial
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Players
Naperville Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93