Updated Dec 4, 2024
HFI Manufacturing Acquires Industrial Property In Saint Charles For $7.3M
3925 Stern Avenue
$7,300,000
$121/SF
Building Size
60,196 SF
Asset Type
Industrial
Closing
Mar 7, 2024
About this deal
AI
An industrial property spanning 60,196 square feet located at 3925 Stern Avenue in Saint Charles was sold for $7,300,000. The transaction was facilitated by Andrew Block, Executive Vice President, and Michael Plumb, Principal, of Lee & Associates, representing the buyer, HFI Manufacturing.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,300,000
- Address: 3925 Stern Avenue
- Market: Saint Charles
- Square Footage: 60,196
- Buyer: HFI Manufacturing
- Brokers: Andrew Block & Michael Plumb - Lee & Associates
Andrew Block and Michael Plumb played crucial roles in the successful purchase of the industrial property, meeting HFI Manufacturing's expansion needs for its stainless-steel manufacturing operations. The deal underscores the buyer's strategic decision to invest in a property that aligns with its business growth requirements.
On the Map
$7,300,000
$121/SF
Industrial
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Players
Saint Charles 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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93