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11 Charles St, Malden, MA, ...

Mystic Brewery Leases 16500 Square Feet At 11 Charles St In Malden From 11 Charles Street Realty
LEASEDIndustrial

Mystic Brewery Leases 16500 Square Feet At 11 Charles St In Malden From 11 Charles Street Realty

11 Charles St, Malden, MA, 02148

Building Size

16,500 SF

Asset Type

Industrial

Closing

Nov 19, 2023

AI

The property asset involved in this transaction is a single-story facility located at 11 Charles Street, Malden, MA, 02148. The facility encompasses a total of 16,500 square feet and is situated in a highly visible downtown area adjacent to Walgreens Pharmacy. The lease was brokered to Mystic Brewery, which will be relocating from its current site in Chelsea.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 11 Charles St, Malden, MA, 02148
  • Market: Malden
  • Tenant: Mystic Brewery
  • Landlord: 11 Charles Street Realty, LLC
  • Tenant's Representatives: Mark Stevens, Amanda Snell (The Stevens Group)
  • Landlord's Representative: Steve Nohrden (Burgess Properties, Inc.)

The deal showcases Mystic Brewery's expansion strategy, as it joins the Malden market, where it will establish an expansive tap room and benefit from forty on-site parking spaces. The new location is conveniently located within walking distance from Malden’s Orange Line T Stop and Commuter Rail, enhancing accessibility for visitors. This move positions Mystic Brewery favorably alongside other breweries in the area, including Idle Hands Brewery and the upcoming Faces Brewing Co.

Players

Stephen Nohrden

Broker

$81.5M

vol

11 deals

Broker

Malden 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