Updated Oct 28, 2024
Wesleyan University Acquires Office Property On 55 High St, Middletown, CT
55 High Street, Middletown, Connecticut 06457, United States
$3,100,000
$70/SF
Building Size
44,000 SF
Asset Type
Office
Closing
Mar 1, 2022
About this deal
AI
Wesleyan University has recently acquired an office property located at 55 High St in Middletown, CT. The property spans over 2.6 acres and was sold for a total of $3,100,000. The transaction was facilitated by Luke Massirio from O,R&L Commercial, who represented the buyer in the deal. The office building itself measures approximately 44,000 square feet, resulting in a price per square foot of $70.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $3,100,000
- Address: 55 High St, Middletown, CT
- Market: Middletown, CT
- Acres: 2.6
- Buyer: Wesleyan University
- Broker: Luke Massirio - O,R&L Commercial
- Square Footage: 44,000
- Price Per Square Foot: $70
The acquisition of the office property by Wesleyan University was facilitated by Luke Massirio from O,R&L Commercial. This deal not only represents a significant transaction in the Middletown, CT market but also highlights the university's expansion and investment in the area's real estate sector.
On the Map
$3,100,000
$70/SF
Office
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Players
Middletown Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93