facebook

traded

+ Submit
Home

/

Deals

/

Massachusetts

/

Industrial

/

Lease

/

1 Technology Place

Rockland Trust Leases 140K SF Headquarters At One Technology Place In Rockland
LEASEDIndustrial

Rockland Trust Leases 140K SF Headquarters At One Technology Place In Rockland

1 Technology Place

Building Size

140,000 SF

Asset Type

Industrial

Closing

May 6, 2025

AI

The property asset involved in the transaction is located at 1 Technology Place in Rockland, MA. This industrial asset spans a total of 140,000 square feet and is situated on a 22-acre campus featuring amenities such as a cafeteria, gym, and EV charging stations. The property was previously occupied by EMD Serono and is owned by A.W. Perry.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Square Footage: 140,000 SF
  • Address: 1 Technology Place
  • Market: Rockland, MA
  • Landlord: Susan O’Day - A.W. Perry
  • Tenant: Jeffrey Tengel - Rockland Trust
  • Landlord's Representative: Jonathan H. Gifford & Tyler Hilson - Perry Brokerage Associates
  • Tenant's Representative: Patrick Cavanagh - CBRE

Rockland Trust signed a lease to consolidate five offices and relocate 500 employees into the new headquarters at One Technology Place. The transaction involved coordination between multiple representatives, including landlords and brokers facilitating the agreement.

Players

Patrick Cavanagh

CBRE

Broker

$35M

vol

4 deals

Broker
Rockland Trust
Rockland TrustTenant

Rockland Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

Loading comparables…

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