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150 Center Ct, Schaumburg, ...

Gerber National Claims Services Leases Office Space At 150 Center Ct, Schaumburg
LEASEDOffice

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

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:

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.

Players

Marc Fiedler

Re/Max

Broker

$3.6M

vol

2 deals

Broker

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