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39 Jackson Road

Ascend Elements Leases 101,000-Square-Foot Building In Devens For World Headquarters And Tech Center
LEASEDIndustrial

Ascend Elements Leases 101,000-Square-Foot Building In Devens For World Headquarters And Tech Center

39 Jackson Road

Building Size

101,000 SF

Asset Type

Industrial

Closing

Sep 20, 2023

AI

Ascend Elements, a sustainable lithium-ion battery materials company, has leased a 101,000-square-foot building located at 39 Jackson Road in Devens, Massachusetts. The property will serve as Ascend Elements' world headquarters and tech center, marking the full lease-up of the first phase of the Pathway Devens development.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not provided
  • Square Footage: 101,000
  • Address: 39 Jackson Road, Devens, MA
  • Market: Devens, MA

The landlord of the leased property at 39 Jackson Road is King Street Properties. The tenant, Ascend Elements, was represented by John Carroll III and Kevin Brawley from Colliers International. On the other hand, Alex Plaistead and Brian McKenzie from CBRE represented the landlord in the deal.

Players

Brian McKenzie

CBRE

Broker

$20.5M

vol

3 deals

Broker
KP
King Street PropertiesLandlord

Poland 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