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70 Walnut St, Wellesley, MA...

Lincoln Property Acquires Newton Wellesley Executive Office Park For $36.6M
SOLD

Lincoln Property Acquires Newton Wellesley Executive Office Park For $36.6M

70 Walnut St, Wellesley, MA, 02481

$36,600,000

$281/SF

Building Size

129,872 SF

Asset Type

Closing

Nov 22, 2023

AI

The $36.6 million sale of Newton Wellesley Executive Office Park has been completed in Wellesley Hills, Massachusetts. The property, located at 70 Walnut St, Wellesley, MA, 02481, consists of four buildings and spans a total of 129,872 square feet. The seller, The Nelson Companies, was represented by Robert Griffin of Newmark, while the buyer was Lincoln Property Company.

Summary of transaction details:

  • Property Type: Office and Medical Office Campus
  • Transaction Amount: $36,600,000.00
  • Market: Wellesley Hills
  • Seller's Representative: Robert Griffin (Newmark)
  • Buyer: Lincoln Property Company

Newmark's team, including Frank Nelson and Michael Greeley, facilitated the transaction. Daniel Krysiak provided local leasing expertise, Nickolas Revers offered financial analysis support, and Allie Percoco assisted with transactional support. Greeley highlighted the property's appeal to medical providers near Newton-Wellesley Hospital, as the office park is currently 93% leased to a mix of longstanding office tenants and medical office users.

Players

Robert Griffin

Newmark

Broker

$7.3B

vol

72 deals

Broker
Lincoln Property Company
Lincoln Property CompanyBrokerage
Lincoln Property Company
Lincoln Property CompanyBuyer

Wellesley Hills CRE Market Snapshot

Boundary boundary · CRE · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.43%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93