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
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