Updated May 12, 2025
Dr. Mouhab Rizkallah's Colossians 3:23 LLC Acquires Industrial Property In Woburn For $14.5M
11 State Street
$14,500,000
$249/SF
Building Size
58,232 SF
Asset Type
Industrial
Closing
Apr 16, 2025
About this deal
AI
The transaction involved the sale of a flex industrial building located at 11 State Street in Woburn, MA. The property spans 58,232 square feet and was sold for $14,500,000, resulting in a price per square foot of $249.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $14,500,000
- Buyer: Dr. Mouhab Rizkallah - Colossians 3:23 LLC
- Seller: Foxfield Development
- Buyer's Representative: Chloe Stubblebine & David Stubblebine - The Stubblebine Company
- Seller's Representative: Brian Tisbert & Christopher Lawrence - JLL
- Sale Date: 04/16/2025
Colossians 3:23 LLC, under the leadership of Dr. Mouhab Rizkallah, acquired the property to serve as the new home for GENESIS Church. This acquisition highlights the strategic movement into the industrial market in Woburn, MA.
On the Map
$14,500,000
$249/SF
Industrial
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Players
Woburn Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93