Tritower Financial Group Acquires Industrial Property In Worcester, MA For $52M
SOLD
$52,000,000
+ 3
Massachusetts
See Similar DealsIndustrial176,000 SF
Sold 01/19/2022
SOLD
Tritower Financial Group Acquires Industrial Property In Worcester, MA For $52M
125 Goddard Memorial Drive, Worcester, MA 01603
See Similar DealsIndustrial176,000 SF
Sold 01/19/2022
+ 3
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$295
Total Square Footage:176,000 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,773,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$184,745.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$246,506.53
Annual Debt Service$2,958,078.35
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