Davis Companies Acquires Industrial Portfolio In Wilmington & Methuen For $44.25M
26 Upton Drive, Wilmington, MA, USA
$44,250,000
$283/SF
Building Size
156,276 SF
Asset Type
Industrial
Closing
Apr 11, 2021
AI
Industrial properties located at 26, 35 & 37 Upton Drive, 36 & 38 Upton Drive, and 1 Aegean Dr in Wilmington and Methuen were recently sold in a closed transaction. The sale was facilitated by Kerry Hawkins from JLL on behalf of the seller, PGA Realty Company, LLC. The buyer, Davis Companies, represented by Jonathan Davis and Stephen Davis, acquired the properties.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $44,250,000
- Address: 26, 35 & 37 Upton Drive, 36 & 38 Upton Drive, and 1 Aegean Dr
- Market: Wilmington & Methuen
In this transaction, the industrial properties spanning a total of 156,276 square feet were sold at a price per square foot of $283. This purchase by Davis Companies marks a notable investment in the Wilmington and Methuen markets.
Kerry Hawkins from JLL played a key role as the broker in facilitating the deal between the seller, PGA Realty Company, LLC, and the buyer, Davis Companies represented by Jonathan Davis and Stephen Davis.
Players
Wilmington Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93