Private Investor Acquires Industrial Asset From Pat Mooney Saws In Addison
502 S Westgate St, Addison, IL, 60101
Building Size
15,600 SF
Asset Type
Industrial
Closing
Nov 20, 2023
AI
An industrial building spanning 15,600 square feet located at 502 S. Westgate St, Addison, IL, 60101, in the Addison market was recently sold in a transaction.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided
- Buyer: Private Investor
- Seller: Pat Mooney Saws
- Buyer's Representative: Ross Lehrman(Transwestern)
- Seller's Representatives: Matt Hanson(Brown Commercial Group), Mike Antonelli
Brown Commercial Group, Inc. represented Pat Mooney Saws in the disposition of the industrial building at 502 S. Westgate Drive. The seller was represented by Matt Hanson and Mike Antonelli. This marked Antonelli's fourth transaction for Pat Mooney Saws, following a previous building acquisition at 25 W. Official Road. Pat Mooney Saws, a distributor and importer of metal sawing machinery, decided to leverage the strong investment market and sell excess space that did not align with their current needs.
Players
Addison Industrial Market Snapshot
Boundary boundary · Industrial · Sale 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