Updated Jun 11, 2026
Rockford Asset Management Acquires 450,000 Square Foot Industrial Asset In Alton For $15M
1400 Discovery Parkway
$15,000,000
$33/SF
Building Size
450,000 SF
Asset Type
Industrial
Closing
Jun 10, 2026
About this deal
AI
The Alton Center Business Park, located at 1400 Discovery Parkway in Alton, Illinois, has been sold for $15,000,000. This industrial asset spans 450,000 square feet and encompasses 133.8 acres of land. The property is currently 70% leased and is anchored by Imperial Manufacturing Group.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $15,000,000
- Square Footage: 450,000
- Address: 1400 Discovery Parkway
- Market: Alton, IL
- Price Per Square Foot: $33
- Buyer: Rockford Asset Management
- Brokers: Tyler Sharp & Adam Abushagur - Marcus & Millichap
- Mortgage Brokers: Frank Montalto & Ethan Splan - Institutional Property Advisors
- Acquisition Financing Secured: $12.4 million
The sale was facilitated by Tyler Sharp and Adam Abushagur from Marcus & Millichap, who represented the buyer, Rockford Asset Management. Frank Montalto and Ethan Splan from Institutional Property Advisors were responsible for securing the acquisition financing for the property.
Players
Market 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93