Omni Logistics Signs 115,822 SF Industrial Lease In Billerica With CBRE Reps
90 Salem Rd, Billerica, MA, 01821
Building Size
115,822 SF
Asset Type
Industrial
Closing
Nov 22, 2023
AI
The industrial property at 90 Salem Rd, Billerica, MA, 01821 is a part of the Billerica Commerce Center, offering a total of 612,685 square feet of space. Built in 1982 and renovated in 2007, the property features 38-foot clear heights, 17 loading docks, and easy access to Interstate 495. Omni Logistics has recently leased a 115,822-square-foot section of this facility, strategically located around 20 miles northwest of Boston.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not specified
- Landlord: Clarion Partners
- Tenant: Omni Logistics
- Lanldord's Rep: Rachel Marks (JLL)
- Tenat's Rep: David Corkery, Steve Clancy, and Rachel Marks (CBRE)
The lease negotiations for the industrial space at 90 Salem Rd were facilitated by David Corkery, Steve Clancy, and Rachel Marks of CBRE, representing both the tenant, Omni Logistics, and the landlord, Clarion Partners based in New York City. This significant transaction brings together key players in the real estate market to further enhance business operations in the Billerica area.
Players
Billerica 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