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38 Upton Drive

Updated Dec 4, 2024

Cappy Daume Of The Davis Companies Signs 10-Year Lease At Upton Crossing In Wilmington MA For 32493 SF
LEASEDIndustrial

Cappy Daume Of The Davis Companies Signs 10-Year Lease At Upton Crossing In Wilmington MA For 32493 SF

38 Upton Drive

Building Size

32,493 SF

Asset Type

Industrial

Closing

Oct 3, 2024

About this deal

AI

The property asset involved in the transaction is located at 38 Upton Drive in Wilmington, MA. It is classified as an industrial asset with a total square footage of 32,493. The development, known as Upton Crossing, is a new industrial campus that will cater to specific tenant needs.

Summary of transaction details:

The Davis Companies has secured a lease agreement with a confidential snack food company, marking a significant occupancy milestone for the industrial campus. The brokerage teams from CBRE and JLL played vital roles in facilitating this transaction, highlighting collaboration among industry professionals.

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Industrial

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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

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