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Nemera Acquires 190,000 SF Industrial Building In Vernon Hills For $26M
SOLD
$26,000,000
Illinois
See Similar DealsIndustrial190,000 SF
Sold 07/25/2023
SOLD
Nemera Acquires 190,000 SF Industrial Building In Vernon Hills For $26M
600 Darling Dr, Vernon Hills, IL 60061, USA
See Similar DealsIndustrial190,000 SF
Sold 07/25/2023
Summary
ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$136
Total Square Footage:190,000 SF
Transaction Type:Sale
Nemera, a French medical device manufacturer, has acquired a 190,000-square-foot industrial building in Vernon Hills, suburban Chicago, for $26 million. The building is located at 600 Darling Drive in the South Lake Industrial Center developed by Panattoni. The property spans 10 acres and is part of Nemera's expansion plans in the area.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $26,000,000
- Address: 600 Darling Drive
- Market: Vernon Hills
- Acres: 10
This deal was facilitated by Panattoni, represented by Adon Panattoni, who acted as the seller. Nemera, the buyer, aims to strengthen its presence in the industrial sector in Vernon Hills with this acquisition. The purchase of the building aligns with their plans for expansion and growth in the area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$92,372.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,253.26
Annual Debt Service$1,479,039.17
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