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:
- Property Type: Industrial
- Transaction Amount: Not Applicable
- Address: 38 Upton Drive
- Market: Wilmington, MA
- Tenant: Cappy Daume - The Davis Companies
- Tenant's Representative: The Davis Companies
- Tenant's Broker: Brian Tisbert, Chelsea Andre, Jamey Lipscomb, Jordan Yarboro, Joseph Fabiano & Rachel Marks - JLL
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
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