Stanton Road Capital Leases 2900 Square Feet At 1333 Butterfield Rd Downers Grove With Rep Francis Prock
1333 Butterfield Rd, Downers Grove, I...
Building Size
2,900 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
The property involved in the transaction is located at 1333 Butterfield Rd, Downers Grove, Illinois. It encompasses a total area of 2,900 square feet within the Woodland Corporate Tower, which has reached a leasing status of 93 percent. The building underwent a $2 million renovation, targeting common area enhancements, including updates to the lobby, tenant corridors, and the conference facility.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Landlord: Stanton Road Capital
- Landlord's Representative: Francis Prock-Colliers International
- Tenant: Not specified
- Square Feet: 2,900
The leasing activity involved leases signed by multiple companies, including Elkay, which secured a 47,073-square-foot headquarters lease, and Securitas, extending its 18,122-square-foot lease. Advizor Solutions expanded from 3,500 to 4,020 square feet, and Pinkerton alongside Martin Whalen Office Solutions leased 2,145 and 2,900 square feet respectively. The executive team from Colliers International, particularly Francis Prock and David Florent, played a significant role in driving the leasing absorption and their efforts led to a successful project under the management of Stanton Road Capital.
Players
Downers Grove 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