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1 Overlook Point, Lincolnsh...

Manhard Consulting Leases 17,989 SF Office At 1 Overlook Point, Lincolnshire
LEASEDOffice

Manhard Consulting Leases 17,989 SF Office At 1 Overlook Point, Lincolnshire

1 Overlook Point, Lincolnshire, IL, 600...

Building Size

17,989 SF

Asset Type

Office

Closing

Feb 19, 2019

AI

Located at 1 Overlook Point in Lincolnshire, Illinois, the office asset spans across 17,989 square feet in the Lincolnshire Corporate Center. The property features a newly constructed amenity center along with a refurbished multi-story building entrance, offering corporate amenities such as a café, Wi-Fi lounge, outdoor amphitheater, lakeside eating area/patio, outdoor fire pit, conference facility, fitness center, and bike room.

Summary of transaction details:

Manhard Consulting, a civil engineering and surveying firm, has recently leased the office space at One Overlook Point. The firm, established over 25 years ago in Vernon Hills, decided to move to this location to create a more collaborative environment for its teams. Nicholas Panarese of Van Vlissingen and Company represented One Overlook Point in the leasing deal, which aligns well with Manhard Consulting's intention to provide a meaningful experience for its staff in a conducive workspace.

Players

Nicholas Panarese III

Van Vlissingen and Company

Broker

$34.5M

vol

5 deals

Broker

Lincolnshire Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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