Sterling Bay Leases 90000 Square Feet To Unknown Tenant At 1035 S Frontage Rd Darien
1035 S Frontage Rd, Darien, IL, 60561
Building Size
90,000 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property is located at 1035 S Frontage Rd, Darien, IL, 60561, in the Darien market. This asset comprises a total of 90,000 square feet and is currently leased. The landlord involved in this transaction is Sterling Bay.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 1035 S Frontage Rd, Darien, IL, 60561
- Market: Darien
- Landlord: Sterling Bay
- Landlord's Representatives: Jeffrey Fischer & Jeff Fischer - CBRE, John Whitehead - NAI Hiffman
- Tenant: Unknown
The deal involves representatives from CBRE and NAI Hiffman, with Jeffrey Fischer, Jeff Fischer, and John Whitehead participating in the transaction. Their roles are to represent the interests of the landlord, Sterling Bay, during this leasing process.
Players
Darien 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