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Scout Cold Storage Haverhill, LLC Acquires Industrial Property In Haverhill, MA For $36M

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SOLD
$36,000,000

Massachusetts

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Industrial108,689 SF
Sold 09/29/2022
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SOLD

Scout Cold Storage Haverhill, LLC Acquires Industrial Property In Haverhill, MA For $36M

10 Creek Brook Drive, Haverhill, Massachusetts 01832, United States

See Similar Deals
Industrial108,689 SF
Sold 09/29/2022
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Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$331
Total Square Footage:108,689 SF
Transaction Type:Sale

Scout Cold Storage Haverhill, LLC has acquired a 23.16-acre industrial property located at 10 Creek Brook Drive in Haverhill, MA. The property was sold by CF Cold Storage LLC for a total of $36,000,000. The transaction was facilitated by brokers Michael Restivo, Lenny Pierce, and David Coffman from JLL. The property spans 108,689 square feet, resulting in a price per square foot of $331.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $36,000,000
  • Address: 10 Creek Brook Drive, Haverhill, MA
  • Market: Haverhill, MA
  • Buyer: Scout Cold Storage Haverhill, LLC
  • Seller: CF Cold Storage LLC
  • Brokers: Michael Restivo, Lenny Pierce, and David Coffman - JLL
  • Property Size: 23.16 acres
  • Square Footage: 108,689
  • Price per Square Foot: $331

Lenny Pierce, Michael Restivo, and David Coffman from JLL played an instrumental role in facilitating this transaction. Their expertise and guidance helped finalize the deal between Scout Cold Storage Haverhill, LLC and CF Cold Storage LLC. The acquisition of this industrial property in Haverhill, MA marks a significant investment opportunity for the buyer.

Players

Lenny Pierce
11 deals$141.1M volume
BROKER

Michael (Mike) Restivo
JLL
29 deals$523.4M volume
BROKER

David Coffman
JLL
15 deals$308.2M volume
BROKER

Details

SOLD
IMAGE: Lenny Pierce & Michael Restivo DATE: 09/29/2022 ADDRESS: 10 Creek Brook Drive MARKET: Haverhill, MA ASSET TYPE: Industrial ~ ACRES: 23.16 BUYER: Scout Cold Storage Haverhill, LLC SELLER: CF Cold Storage LLC BROKERS: Michael Restivo, Lenny Pierce & David Coffman - JLL(@JLL) SALE PRICE: $36,000,000 SF: 108,689 ~ PPSF: $331

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,920,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$127,900.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$170,658.37
Annual Debt Service$2,047,900.40