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Newmark Acquires Office Portfolio In Lombard And Lisle, IL And Waukesha, WI For $45.15M

Property Image
SOLD
$45,150,000
Jim Postweiler
Peter Harwood
Derek Fohl
+ 1

Illinois

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Office
Sold 12/07/2023
the dealplayerscompscontact
Property Image
SOLD

Newmark Acquires Office Portfolio In Lombard And Lisle, IL And Waukesha, WI For $45.15M

900 Parkview Boulevard, 2300 Cabot Drive & n19w24133 Riverwood Drive

See Similar Deals
Office
Sold 12/07/2023
Jim Postweiler
Peter Harwood
Derek Fohl
+ 1
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Office
Transaction Type:Sale

The Midwest Capital Markets team at Newmark closed $45.15 million in office sales in November, completing four transactions across three assets. These deals included a $25.9 million sale of a five-building portfolio located at Woodlake Corporate Park in Lombard, Illinois. Additionally, there was a combined sale of 2300 Cabot Drive and One & Two Riverwood Place for $19.25 million.

Summary of transaction details

Newmark's Midwest Capital Markets team facilitated these transactions, representing the sellers. The team comprised Derek Fohl, Jack Trager, Jim Postweiler, and Peter Harwood.

Players

Jim Postweiler
Newmark
Jim Postweiler
2 deals$61.2M volume(312) 224-3194
BROKER
Peter Harwood
Newmark
Peter Harwood
2 deals$61.2M volume(312) 224-3195
BROKER
Derek Fohl
Newmark
Derek Fohl
5 deals$190.1M volume(312) 224-3196
BROKER
Jack Trager
Newmark
Jack Trager
1 deal$45.2M volume(630) 386-7028
BROKER

Details

SOLD
IMAGE: Peter Harwood, Jack Trager, Jim Postweiler & Derek Fohl DATE: 12/07/2023 ADDRESS: 900 Parkview Boulevard, 2300 Cabot Drive & n19w24133 Riverwood Drive MARKET: Lombard & Lisle, IL; Waukesha, WI ASSET TYPE: Office BROKERS: Derek Fohl, Jack Trager, Jim Postweiler & Peter Harwood - Newmark (@Newmark) SALE PRICE: $45,150,000 NOTE: Newmark's Midwest Capital Markets team closed $45.15 million in office sales in November, encompassing four transactions across three assets. The deals, facilitated for sellers, included a $25.9 million five-building portfolio sale at Woodlake Corporate Park in Lombard, Illinois, and a $19.25 million combined sale of 2300 Cabot Drive and One & Two Riverwood Place.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,407,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$160,408.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$214,034.03
Annual Debt Service$2,568,408.41