The Forever Young Group Leases Commercial Space In Mattapan, MA
LEASED
Massachusetts
See Similar DealsCommercial24,498 SF
Leased 12/12/2020
LEASED
The Forever Young Group Leases Commercial Space In Mattapan, MA
120 Babson Street, Boston, MA, USA
See Similar DealsCommercial24,498 SF
Leased 12/12/2020
Summary
MASSACHUSETTS
Asset Type:Commercial
Total Square Footage:24,498 SF
Transaction Type:Lease
Located at 120 Babson Street in Mattapan, MA, a commercial property has been leased by The Forever Young Group. The property, formerly known as Pope John Paul II Catholic Academy, will be converted into an adult assisted living facility with 37 apartments. The lease term spans an impressive 75 years, with an asking rent of $122,020 per year. The property sits on 1.3 acres, covering a total area of 24,404 square feet.
Summary of transaction details
- Property Type: Commercial
- Tenant: The Forever Young Group
- Landlord: Archdiocese of Boston
- Broker: Jeff Similien - Boston Trust Realty Group, & James Elock - Colliers International
- Lease Term: 75 years
- Asking Rent: $122,020 (Annual)
- Acres: 1.3
Our congratulations go out to The Forever Young Group, Jeff Similien of Boston Trust Realty Group, and James Elock of Colliers International for brokering this deal.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$1,404,210.58
Total Lease Value
$14,042,105.77
Net Landlord Cash Flow$1,404,210.58
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