Unitex Healthcare Laundry Services Leases 188653 Square Feet At 155 Shepard St In Lawrence MA
155 Shepard St, Lawrence, MA, 01843
Building Size
188,653 SF
Asset Type
Industrial
Closing
Nov 19, 2023
AI
The property involved in this transaction is an industrial lease located at 155 Shepard St, Lawrence, MA, 01843, encompassing 188,653 square feet. This facility was formerly utilized as a plant for the beverage can manufacturer Crown Cork & Seal and is situated just south of the New Hampshire border.
Summary of transaction details:
- Property Type: Industrial Lease
- Transaction Amount: Not specified
- Square Feet: 188,653
- Market: Lawrence
- Tenant: Unitex Healthcare Laundry Services
- Landlord: The Seyon Group
- Tenant's Representative: Dan Driscoll
- Landlord's Representatives: James Lipscomb, Michael Ciummei, and Joe Fabiano of JLL
- Brokers: Greg Klemmer, Tim Brodigan, Tim Allen, and Daniel Driscoll of Colliers International
- Building Height Adjustment: The Seyon Group will raise the building’s clear height from 17 feet to 32 feet.
The deal involved Unitex Healthcare Laundry Services, which is based in Elmsford, New York. Key individuals representing Unitex in the lease negotiations included Greg Klemmer and Dan Driscoll from Colliers International. On the landlord's side, JLL representatives James Lipscomb, Michael Ciummei, and Joe Fabiano facilitated the transaction for The Seyon Group.
Players
Lawrence 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