Orbit Medical Leases Office Space At 550 N Commons Dr, Aurora
550 N Commons Dr, Aurora, IL, 60504
Building Size
15,233 SF
Asset Type
Office
Closing
Mar 26, 2019
AI
The property at 550 N Commons Dr in Aurora, IL, 60504, is an office and industrial space spanning 15,233 square feet. The asset is part of the Meridian Tech Center, developed in 1984, along with the adjacent property at 600 N. Commons Dr. Clear Height Properties, the landlord, completed a lease with Orbit Medical, a Medicare-contracted supplier of medical equipment.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Tenant: Orbit Medical
- Tenant's Rep: Victor Sanmiguel (Bespoke Commercial Real Estate)
- Square Feet: 15,233
- Landlord: Clear Height Properties
- Location: 550 N Commons Dr, Aurora, IL, 60504
Orbit Medical, a company specializing in medical equipment, is relocating from Naperville, IL, to Aurora, IL. The firm has more than 125 employees servicing over 30,000 patients annually and operates in multiple locations across the Midwest. Clear Height Properties, the landlord, completed substantial tenant improvements for Orbit Medical, ensuring a smooth transition for the company's operations.
Players
Aurora 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