Creative Technology Leases 86905 Sq Ft Industrial Property In Des Plaine
2200 S Mount Prospect Rd, Des Plaine...
Building Size
86,905 SF
Asset Type
Industrial
Closing
Jan 28, 2019
AI
Located at 2200 S Mount Prospect Rd, Des Plaines, the industrial property involved in the recent transaction features a total of 86,905 square feet. The lease was secured by Creative Technology, moving its growing Midwest headquarters from Elk Grove Village to the new facility on April 1, 2019. The landlord, BRE Alpha Industrial/Gateway Industrial Properties, was represented by Matthew Stauber and Patrick Turner, while the tenant was represented by Thomas Rodeno from Colliers International.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not provided in the context
- Tenant's Rep: Thomas Rodeno (Colliers International)
- Landlord's Rep: Matthew Stauber (Colliers International), Patrick Turner (Colliers International)
- Tenant: Creative Technology
- Landlord: BRE Alpha Industrial/Gateway Industrial Properties
- Square Feet: 86,905
The key individuals involved in the deal were Matthew Stauber, Patrick Turner, and Thomas Rodeno, representing the landlord and tenant. Creative Technology, led by their tenant representative Rodeno, will be relocating to the new industrial property, marking a significant expansion of their operations in the Midwest region.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · 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