Calare Properties Acquires Industrial Asset From KAK Realty In Salem Massachusetts For $10.13M
SOLD
$10,125,000
Massachusetts
See Similar DealsIndustrial84,814 SF
Sold 02/03/2025
SOLD
Calare Properties Acquires Industrial Asset From KAK Realty In Salem Massachusetts For $10.13M
1 Technology Way
See Similar DealsIndustrial84,814 SF
Sold 02/03/2025
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$119
Total Square Footage:84,814 SF
Transaction Type:Sale
The industrial property located at 1 Technology Way in Salem, MA, was sold for $10,125,000. The asset spans a total square footage of 84,814 and achieved a price per square foot of $119.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,125,000
- Buyer: Calare Properties
- Seller: KAK Realty
- Broker Representatives: Harrison Klein, Luigi Lessa & Mattias Edenkrans - Marcus & Millichap
- Date of Transaction: 02/03/2025
Harrison Klein, Luigi Lessa, and Mattias Edenkrans represented Marcus & Millichap in this transaction. They facilitated the deal between the buyer, Calare Properties, and the seller, KAK Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$540,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,971.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,997.67
Annual Debt Service$575,971.99
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