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1 Overlook Point, Lincolnsh...

Bswift Signs Lease For 3470 Square Feet At 1 Overlook Point Lincolnshire With Landlord Van Vlissingen And Co
LEASEDOffice

Bswift Signs Lease For 3470 Square Feet At 1 Overlook Point Lincolnshire With Landlord Van Vlissingen And Co

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

Building Size

3,470 SF

Asset Type

Office

Closing

Nov 20, 2023

AI

The property involved in this transaction is an office space located at 1 Overlook Point, Lincolnshire, IL. The space measures 3,470 square feet and is situated in the Lincolnshire Corporate Center. bswift, an Aetna company, is leasing this office as part of its expansion of the Chicago office, drawn to the location and amenities of the property.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1 Overlook Point, Lincolnshire, IL, 600...
  • Market: Lincolnshire
  • Tenant: bswift
  • Landlord: Van Vlissingen and Co.
  • Tenant's Representative: Jonathan Metzl, Cushman & Wakefield
  • Landlord's Representative: Nicholas Panarese, Van Vlissingen and Co.
  • Square Feet: 3,470

The deal features several new amenities currently under construction at the office property, including a deli, Wi-Fi lounge, conference facility, fitness center, and bike room. These enhancements aim to support bswift's operational needs and improve employee experience in the new space.

Players

Jonathan Metzl

Cushman & Wakefield

Broker

3 deals

Broker

Van Vlissingen

Van Vlissingen and Co.

Landlord

$6.5M

vol

3 deals

Landlord

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