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
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