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2655 Warrenville Road

Ryerson Leases 46000 SF At Group RMC's Corridors II In Downers Grove
LEASEDOffice

Ryerson Leases 46000 SF At Group RMC's Corridors II In Downers Grove

2655 Warrenville Road

Building Size

46,000 SF

Asset Type

Office

Closing

Feb 27, 2025

AI

The property involved in this transaction is an office asset located at 2655 Warrenville Road in Downers Grove. The total square footage of the space is 46,000 SF, situated within a building that is part of Group RMC’s Corridors II, which nearly remains fully occupied after the departure of UnitedHealthcare.

Summary of transaction details:

This lease transaction reflects a strategic move by Ryerson to occupy 46,000 SF in a well-maintained Class A office space, emphasizing the ongoing trend among tenants to prefer quality office environments amidst challenging suburban Chicago vacancy rates. The deal contributes to keeping the overall occupancy of the 150,000 SF building at a high level.

Players

Dirk Riekse

Cushman & Wakefield

Broker

$15M

vol

2 deals

Broker
GR
Group RMCLandlord

Downers Grove 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