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777 Hickory Hill Drive

High Street Logistics Properties Acquires Industrial Asset At 777 Hickory Hill Drive For $28M
SOLDIndustrial

High Street Logistics Properties Acquires Industrial Asset At 777 Hickory Hill Drive For $28M

777 Hickory Hill Drive

$28,000,000

$95/SF

Building Size

294,834 SF

Asset Type

Industrial

Closing

Nov 8, 2024

AI

The property involved in the transaction is located at 777 Hickory Hill Drive, Vernon Hills. This industrial asset encompasses a total area of 294,834 square feet and has a sale price of $28,000,000, translating to a price per square foot of $94.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $28,000,000
  • Address: 777 Hickory Hill Drive
  • Market: Vernon Hills
  • Square Footage: 294,834
  • Price Per Square Foot: $94
  • Buyer: High Street Logistics Properties
  • Seller's Representatives: Gordon Lamphere, Nicholas Panarese & Charles Lamphere - Van Vlissingen and Co.

The transaction highlights significant individuals in the deal, including high-level representatives from Van Vlissingen and Co., which played a crucial role in representing the seller. Notable figures such as Gordon Lamphere, Nicholas Panarese, and Charles Lamphere were involved in facilitating this transaction.

Players

Nicholas Panarese III

Van Vlissingen and Company

Broker

$34.5M

vol

5 deals

Broker

Vernon Hills 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

0.57%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93