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1333 Butterfield Rd, Downer...

Updated Oct 29, 2024

Stanton Road Capital Leases 2900 Square Feet At 1333 Butterfield Rd Downers Grove With Rep Francis Prock
LEASEDOffice

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

About this deal

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.

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Players

Francis Prock

Colliers

Broker

$13M

vol

4 deals

Broker
Stanton Road Capital
Stanton Road CapitalLandlord
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Downers Grove Office Market Snapshot

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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

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