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700 Commerce Drive

Sasser Family Cos. Signs Lease For 65K SF At 700 Commerce Dr. In Oak Brook
LEASEDOffice

Sasser Family Cos. Signs Lease For 65K SF At 700 Commerce Dr. In Oak Brook

700 Commerce Drive

Building Size

65,000 SF

Asset Type

Office

Closing

Jan 23, 2024

AI

The Sasser Family Cos., a transportation company, has signed a lease for 65,000 square feet in the newly renovated office building located at 700 Commerce Drive in Oak Brook. This move marks the company's headquarters relocation from Schaumburg to Oak Brook Pointe. The office building offers expanded amenities and features a 5,000-square-foot conference center, providing an ideal setting for Sasser Family Cos.' operations.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 700 Commerce Drive
  • Market: Oak Brook
  • Square Feet: 65,000

Principal Real Estate, the landlord, facilitated the lease agreement with Sasser Family Cos. The tenant's representative, Max Chopovsky of MCCS Realty, played a crucial role in negotiating the terms of the lease on behalf of Jeff Walsh, the tenant. Representing the landlord, Jeff Mann from CBRE ensured a smooth and successful transaction between the two parties.

Players

Jeffrey Mann

CBRE

Broker

1 deal

Broker
PE
Principal Real EstateLandlord

Oak Brook 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