Tegra Medical Acquires Industrial Property In Franklin, MA For $16.4M
SOLD
$16,400,000
Massachusetts
See Similar DealsIndustrial120,000 SF
Sold 08/05/2020
SOLD
Tegra Medical Acquires Industrial Property In Franklin, MA For $16.4M
Forge Park/495, 1000 W Central St, Franklin, MA 02038, USA
See Similar DealsIndustrial120,000 SF
Sold 08/05/2020
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$136
Total Square Footage:120,000 SF
Transaction Type:Sale
An industrial property located at 16 Forge Park in Franklin, MA has been sold in a closed transaction. The property spans 120,000 square feet, and the sale price was $16,400,000, resulting in a price per square foot of $137.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $16,400,000
The seller of the property was Condyne Capital Partners, LLC, represented by Jeff O’Neil from Westpoint Capital Partners LLC. The buyer of the property was Tegra Medical. The brokers involved in this transaction were Sean Lynch, Joseph Fabiano, and Michael Ciummei from JLL.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$874,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$58,265.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$77,744.37
Annual Debt Service$932,932.40
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