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263 Boston Post Rd

IVXpress, Inc. Leases 2,100 SF Retail Space At 263 Boston Post Rd, Orange, CT
LEASEDRetail

IVXpress, Inc. Leases 2,100 SF Retail Space At 263 Boston Post Rd, Orange, CT

263 Boston Post Rd

Building Size

2,100 SF

Asset Type

Retail

Closing

Apr 28, 2023

AI

The property involved in this lease transaction is a 2,100 square-foot office/retail space located at 263 Boston Post Rd in Orange, CT. The landlord, Crossroads Associates, LLC, has entered into a seven-year lease agreement with the tenant, IVXpress, Inc. This space will serve as IVXpress, Inc.'s third location in Connecticut, offering biologic injections and infusions for patients with various conditions in a private and comfortable setting.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Square Footage: 2,100
  • Address: 263 Boston Post Rd, Orange, CT
  • Market: Orange, CT
  • Landlord: Crossroads Associates, LLC
  • Tenant: IVXpress, Inc

Michael Richetelli, the president and designated broker of Colonial Properties, Inc., represented the landlord, Crossroads Associates, LLC, in securing this lease agreement. The tenant, IVXpress, Inc., was represented by Eastern Land Company. This deal marks IVXpress, Inc.'s expansion with a new location in Orange, CT, providing specialized medical services to a broader clientele.

Players

Michael Richetelli

Broker

$31.5M

vol

7 deals

Broker

Waterford Retail Market Snapshot

Boundary boundary · Retail · 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