Updated Oct 28, 2024
Tritower Financial Group Acquires Industrial Property In Worcester, MA For $52M
125 Goddard Memorial Drive, Worcester, MA 01603
$52,000,000
$295/SF
Building Size
176,000 SF
Asset Type
Industrial
Closing
Jan 19, 2022
About this deal
AI
The industrial property located at 125 Goddard Memorial Dr in Worcester, MA has been sold in a closed transaction. The property spans 176,000 square feet and is classified as an industrial asset. The sale price for this transaction was $52,000,000, resulting in a price per square foot of $295.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $52,000,000
The buyer of the property was Tritower Financial Group, while the seller was RJ Kelly. The transaction was facilitated by a team from Newmark Boston Capital Markets Group, consisting of brokers Robert Griffin, Edward Maher, Matthew Pullen, Tony Coskren, Samantha Hallowell, and Brian Pinch.
Players
Worcester 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93