CBRE Secures Lease For Life Link III At Shoreview Business Campus
4186 Lexington Avenue North
Building Size
12,827 SF
Asset Type
Office
Closing
Jun 20, 2024
About this deal
AI
The Shoreview Business Campus in Shoreview, Minnesota, welcomed Life Link III, a medical air transportation company, as the new tenant with a secured 12,827-square-foot lease. The property, located at 4186 Lexington Avenue North, is managed by The RMR Group and boasts a 91% occupancy rate. Other medical tenants at the campus include Allina Medical Clinic and Courage Kenny Sports & Physical Therapy.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 4186 Lexington Avenue North
- Market: Shoreview, Minnesota
- Square Footage: 12,827
- Landlord: The RMR Group (RMR)
- Tenant: Life Link III
- Brokers: Jerry Driessen, John Ryden & Maxx Schindel - CBRE
CBRE played a crucial role in facilitating the lease agreement between Life Link III and The RMR Group. Jerry Driessen, John Ryden, and Maxx Schindel were the brokers from CBRE who represented the parties in the deal, ensuring a seamless transition for the medical air transportation company into its new space at Shoreview Business Campus.
Players
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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