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200 North Martingale Road

Mizkan Group Leases 50,394 Square Feet At Woodfield Corporate Center In Schaumburg Illinois
LEASEDOffice

Mizkan Group Leases 50,394 Square Feet At Woodfield Corporate Center In Schaumburg Illinois

200 North Martingale Road & 150 North Martingale Road

Building Size

100,698 SF

Asset Type

Office

Closing

Nov 19, 2024

AI

The property asset involved in this lease transaction consists of office space located at 200 North Martingale Road & 150 North Martingale Road in Schaumburg, with a total square footage of 50,349. The leasing activity is part of the Woodfield Corporate Center, where Mizkan America, Inc. will relocate its North American headquarters in 2025.

Summary of transaction details:

The transaction highlights the involvement of multiple parties, with Savills leading the representation for the tenant, Mizkan Group, while JLL acted on behalf of the landlord, Sperry Equities. This collaboration facilitated the successful lease of the office space, marking an important relocation for Mizkan Group.

Players

Adam Southard

Savills

Broker

6 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