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140 Summit Street, Peabody,...

Oliver Street Acquires Industrial Property On Summit Street In Peabody, MA For $65M
SOLDIndustrial

Oliver Street Acquires Industrial Property On Summit Street In Peabody, MA For $65M

140 Summit Street, Peabody, MA, USA

$65,000,000

$175/SF

Building Size

370,000 SF

Asset Type

Industrial

Closing

Dec 17, 2020

AI

The industrial property located at 140 Summit Street in Peabody, MA was recently sold. The transaction took place on December 18, 2020. The property, spanning 370,000 square feet, was sold by Christianbook to Oliver Street. The sale price for this transaction was $65,000,000, resulting in a price per square foot of $176.

Summary of transaction details

This deal was facilitated by the brokers Frank Petz, John Nasca, Greg Klemmer, and Dan Driscoll from Colliers International. They represented both the buyer, Oliver Street, and the seller, Christianbook, in the transaction.

Players

John Nasca

Lee & Associates

Broker

$726M

vol

14 deals

Broker

Oliver Street

Bain Capital

Buyer

$365.6M

vol

10 deals

Buyer

Peabody 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

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93