Picklemall Inc Leases 46,000-Square-Foot Space In Vernon Hills With Transwestern Real Estate Services
Building Size
46,000 SF
Asset Type
Retail
Closing
Oct 9, 2023
AI
A 46,000-square-foot retail space located at 5555 Town Line Road in Vernon Hills, Illinois, has been leased. The property will be utilized by Picklemall Inc. for its innovative indoor pickleball facility concept. The space will be repurposed into climate-controlled pickleball centers. Transwestern Real Estate Services (TRS) provided real estate services, including site selection and project management, to Picklemall Inc.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not mentioned
- Square Footage: 46,000
- Address: 5555 Town Line Road
- Market: Vernon Hills
Transwestern Real Estate Services (TRS) played a vital role in assisting Picklemall Inc. with their leasing needs. The brokers involved in the transaction were Tim Katt and Larry Serota, both from Transwestern Real Estate Services (TRS). Picklemall Inc.’s innovative concept for indoor pickleball facilities was supported by Major League Pickleball Founder Steve Kuhn. TRS provided valuable services such as site selection and project management to bring this vision to life.
Market Retail Market Snapshot
Boundary boundary · Retail · 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