Gerber National Claims Services Leases Office Space At 150 Center Ct, Schaumburg
150 Center Ct, Schaumburg, IL, 60195
Building Size
15,751 SF
Asset Type
Office
Closing
Nov 20, 2023
About this deal
AI
The lease transaction involved an office asset located at 150 Center Ct, Schaumburg, IL, 60195. The property spans 15,751 square feet and is situated in the Schaumburg market. Gerber National Claims Services, a national automotive-glass claim administrator, leased this space for their claims processing and administration departments. The lease renewal was facilitated by Avison Young, with tenant improvements valued at over $500,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant's Rep: Marc Fiedler(Re/Max), Richard Morris(Cresa)
- Tenant: Gerber National Claims Services
- Landlord: Performance Real Estate Services 3, LLC
The tenant was represented by Avison Young, specifically Rick Morris and Marc Fiedler from the Chicago office. On the landlord's side, Jennifer Hopkins and Olivia Czyzynski of SVN Chicago Commercial represented Performance Real Estate Services 3, LLC. The tenant, Gerber National Claims Services, utilizes the space as a national call center, employing 60 call-center and administrative employees with unique 24/7 operations requirements.
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Players
Schaumburg 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