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2200 S Mount Prospect Rd, D...

Creative Technology Leases 86905 Sq Ft Industrial Property In Des Plaine
LEASEDIndustrial

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:

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

Matthew Stauber

Colliers

Broker

$22.6M

vol

12 deals

Broker

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