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Nrti Spiller Drive LLC Acquires Industrial Site From Spiller Drive LLC For $13 Million

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SOLD
$13,000,000

Maine

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Industrial268,000 SF
Sold 10/03/2025
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SOLD

Nrti Spiller Drive LLC Acquires Industrial Site From Spiller Drive LLC For $13 Million

22 Spiller Drive & 48 Spiller Drive

See Similar Deals
Industrial268,000 SF
Sold 10/03/2025
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Summary

MAINE
Asset Type:Industrial
Price Per Square Foot:$48
Total Square Footage:268,000 SF
Transaction Type:Sale

The property involved in this transaction is an industrial site located at 22-48 Spiller Drive in Westbrook, ME. The sale price of the property was $13,000,000, and it encompasses a total area of 134,000 square feet, equating to a price per square foot of $97.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $13,000,000
  • Sale Date: 10/03/2025
  • Address: 22-48 Spiller Drive
  • Market: Westbrook, ME
  • Buyer: Nrti Spiller Drive LLC
  • Seller: Spiller Drive LLC
  • Buyer's Representative: TC Haffenreffer - The Dunham Group
  • Seller's Representatives: Steve Baumann - Compass Commercial Brokers & Josh Soley - CORE
  • Square Footage: 134,000
  • Price per Square Foot: $97

This transaction was facilitated by CORE, representing the seller, with Josh Soley and Steve Baumann managing the details on their behalf. The buyer was represented by TC Haffenreffer of The Dunham Group. The industrial site is anchored by glass and metal fabricator Sigco, a subsidiary of Oldcastle BuildingEnvelope.

Players

Josh Soley
5 deals$34.5M volume
BROKER

TC Haffenreffer
The Dunham Group
3 deals$31.6M volume
BROKER

Steve Baumann
Compass Commercial Brokers
2 deals$24.3M volume
BROKER

The Dunham Group
BROKERAGE

Details

SOLD
IMAGE: 10/03/2025 ADDRESS: 22-48 Spiller Drive MARKET: Westbrook, ME ASSET TYPE: Industrial BUYER: Nrti Spiller Drive LLC SELLER: Spiller Drive LLC BUYER'S REP: TC Haffenreffer - The Dunham Group SELLER'S REP: Steve Baumann - Compass Commercial Brokers & Josh Soley - CORE SALE PRICE: $13,000,000 SF: 134,000 ~ PPSF: $97 NOTE: CORE brokered the $13 million sale of 22-48 Spiller Dr., a 134,000 s/f industrial site anchored by glass and metal fabricator Sigco, a subsidiary of Oldcastle BuildingEnvelope. Josh Soley of CORE and Steve Baumann of Compass Commercial Brokers represented the seller, while TC Haffenreffer of The Dunham Group represented the buyer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$693,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59