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
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:
- Property Type: Industrial
- Transaction Amount: Confidential
- Address: 38 Upton Drive
- Market: Wilmington, MA
- Tenant: Cappy Daume - The Davis Companies
- Brokers: Bart Anderson, Juliana Fiore - CBRE, Brian Tisbert, Joe Fabiano, Jordan Yarboro & James Lipscomb - JLL
- Lease Term: 10 years
- Start Date: Q1 2025
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.
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