Crain’s Chicago Business Amazon.com Inc. has agreed to fully lease the 501,000-square-foot industrial building at 3940 South Lakeside Drive in Waukegan, Ill. The e-commerce giant is leasing the property from Bridge Industrial of Chicago. The building opened last year and ...
The property backs an $18.85 million loan that Bank of America had provided in February 2014. The loan has a fixed rate of 4.67 percent and matures in March 2024.
The buyer expects to fund about $17.5 million of the purchase price by tapping a credit facility. The remainder of the purchase price will be funded with proceeds of a $55 million common stock offering the company is undertaking.
96.1 percent leased.
Lakeside Point I & II consists of two three-story buildings, both of which are fully leased to Abbott Laboratories through August of 2008.