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38 Upton Drive

The Davis Companies Leases 111,119 SF Industrial Space To Global Medical Device Company
LEASEDIndustrial

The Davis Companies Leases 111,119 SF Industrial Space To Global Medical Device Company

38 Upton Drive

Building Size

111,119 SF

Asset Type

Industrial

Closing

Mar 27, 2024

AI

The Davis Companies has leased a 111,119 square foot building at Upton Crossing in Wilmington, MA. The property is part of Class A industrial/flex space, with a total of 215,000 square feet available.

Summary of transaction details:

The Davis Companies facilitated the leasing of the industrial property to a global medical device company specializing in critical care and software, showing remarkable utilization of over half of the available space at Upton Crossing.

Players

Joseph Fabiano

JLL

Broker

$16.4M

vol

5 deals

Broker

Wilmington 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