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:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 2655 Warrenville Road
- Market: Downers Grove
- Landlord: Maher Cherfan
- Tenant: Edward Lehner
- Landlord's Representative: Adam Lawler & Peter Adamo - CBRE
- Tenant's Representative: Dirk Riekse & Jordan Rovito - Cushman & Wakefield
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
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