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Black Creek Group Acquires Industrial Property In Franklin & Danvers, MA For $37.25M

Property Image
SOLD
$37,250,000
Scott Jamieson
Brandon Dickason

Massachusetts

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Industrial205,324 SF
Sold 12/09/2021
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Property Image
SOLD

Black Creek Group Acquires Industrial Property In Franklin & Danvers, MA For $37.25M

290 Beaver Street, Franklin, Massachusetts 02038, United States

See Similar Deals
Industrial205,324 SF
Sold 12/09/2021
Scott Jamieson
Brandon Dickason
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$181
Total Square Footage:205,324 SF
Transaction Type:Sale

Black Creek Group has acquired an industrial property located at 290 Beaver St & 125 Water St in Franklin and Danvers, MA. The transaction was completed on 12/09/2021 for a sale price of $37,250,000. The property spans 205,324 square feet, resulting in a price per square foot of $181.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $37,250,000
  • Date: 12/09/2021
  • Address: 290 Beaver St & 125 Water St, Franklin & Danvers, MA
  • Market: Franklin & Danvers, MA
  • Buyer: Black Creek Group
  • Seller: Arris Partners, LLC - John Garofalo
  • Brokers: Scott Jamieson & Brandon Dickason - Avison Young
  • Size: 205,324 square feet
  • Price per Square Foot: $181

Scott Jamieson & Brandon Dickason from Avison Young represented the buyer, Black Creek Group, in this transaction.

Players

Brandon Dickason
Avison Young
Brandon Dickason
3 deals$43.2M volume
BROKER
Scott Jamieson
Avison Young
Scott Jamieson
1 deal$37.3M volume
BROKER
Black Creek Group
Black Creek Group
BUYER
AL
Arris Partners, LLC
SELLER

Details

SOLD
IMAGE: Scott Jamieson & Brandon Dickason DATE: 12/09/2021 ADDRESS: 290 Beaver St & 125 Water St MARKET: Franklin & Danvers, MA ASSET TYPE: Industrial BUYER: Black Creek Group SELLER: Arris Partners, LLC - John Garofalo BROKER: Scott Jamieson & Brandon Dickason - Avison Young SALE PRICE: $37,250,000 SF: 205,324 ~ PPSF: $181

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,986,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$132,341.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$176,584.00
Annual Debt Service$2,119,008.05