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
Rockland Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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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