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

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SOLD
$36,600,000

Massachusetts

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129,872 SF
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SOLD

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

70 Walnut St, Wellesley, MA, 02481

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129,872 SF
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Summary

MASSACHUSETTS
Price Per Square Foot:$281
Total Square Footage:129,872 SF
Transaction Type:Sale

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 (Rob) Griffin
72 deals$7.3B volume(617) 863-8611
BROKER

Lincoln Property Company
BROKERAGE


Details

SOLD
IMAGE: 70 Walnut St, Wellesley, MA, 02481 MARKET: Wellesley Hills SELLER'S REP: Robert Griffin(Newmark) BUYER: Lincoln Property Company SELLER: The Nelson Companies PRICE: $36,600,000.00 SF: 129872

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

$1,951,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$130,032.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$173,502.67
Annual Debt Service$2,082,032.07