LaSalle Investment Management Acquires Industrial Property In Peabody, MA For $53.1M
SOLD
$53,100,000
+ 2
Massachusetts
See Similar DealsIndustrial186,591 SF
Sold 10/04/2023
SOLD
LaSalle Investment Management Acquires Industrial Property In Peabody, MA For $53.1M
1 Technology Drive
See Similar DealsIndustrial186,591 SF
Sold 10/04/2023
+ 2
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$284
Total Square Footage:186,591 SF
Transaction Type:Sale
LaSalle Investment Management has acquired an industrial property located at 1 Technology Drive in Peabody, MA. The property was sold by BentallGreenOak for a transaction amount of $53,100,000. The industrial asset spans across 186,591 square feet, with a price per square foot of $285.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $53,100,000
- Address: 1 Technology Drive, Peabody, MA
- Market: Peabody, MA
The deal was brokered by Colliers International, with Frank Petz, Matthew Sherry, Rob Schlesinger, Jack Barrett, and Daniel Hincks representing the firm. Their expertise and negotiation skills played a crucial role in facilitating the successful transaction.
Players
BROKERAGE
BUYER
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,832,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$188,653.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$251,721.09
Annual Debt Service$3,020,653.08
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