AIT Worldwide Logistics Leases 57,000 SF Office Space In Itasca
2 Pierce Place, Itasca, Illinois 60143, United States
Building Size
57,000 SF
Asset Type
Office
Closing
Jan 19, 2023
About this deal
AI
Located at 2 Pierce Place in Itasca, the 57,000 square foot office space was recently leased. The transaction took place on January 19, 2023. The property is owned by Sovereign Partners.
Summary of transaction details:
- Property Type: Office
- Transaction Date: January 19, 2023
- Address: 2 Pierce Place, Itasca
- Square Footage: 57,000
Vaughn Moore of AIT Worldwide Logistics is the tenant for this lease. Representing the landlord, Sovereign Partners, are Rob Lundin and John Norris from Newmark. On the other hand, Eric Kunkel and Steve Spinell from JLL acted as the tenant's representatives.
Players
Itasca 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