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Stockbridge Acquires Industrial Property At 295 Union Street In East Walpole For $26M

Property Image
SOLD
$26,000,000
Michael (Mike) Restivo
Tommy (Tom) Hovey
+ 4

Massachusetts

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Industrial85,159 SF
Sold 05/14/2025
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Property Image
SOLD

Stockbridge Acquires Industrial Property At 295 Union Street In East Walpole For $26M

295 Union Street

See Similar Deals
Industrial85,159 SF
Sold 05/14/2025
Michael (Mike) Restivo
Tommy (Tom) Hovey
+ 4
Contact now

Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$305
Total Square Footage:85,159 SF
Transaction Type:Sale

The transaction involves the sale of an industrial property located at 295 Union Street in East Walpole, MA. The deal concluded with a sale price of $26,000,000 for a total area of 85,159 square feet, resulting in a price per square foot of $305.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $26,000,000
  • Address: 295 Union Street
  • Market: East Walpole, MA
  • Square Footage: 85,159
  • Price per Square Foot: $305
  • Buyer: Stockbridge
  • Seller: John Meador & Charlie Luce - Casco Real Estate Partners; Aaron Snegg, Matthew Novak, Andrew Holmberg & Bahaar Sidhu - Berkeley Partners
  • Brokerage: David Coffman, Michael Restivo & Tommy Hovey - JLL

JLL Capital Markets facilitated the sale process for the property, representing the involved parties throughout the transaction. The unique collaboration between the sellers, who are affiliated with two different firms, and the brokerage team highlights the coordinated effort in executing this significant deal.

Players

Michael (Mike) Restivo
29 deals$523.4M volume
BROKER

David Coffman
JLL
15 deals$308.2M volume
BROKER

Tommy (Tom) Hovey
JLL
9 deals$125.7M volume(860) 944-3851
BROKER

Stockbridge
BUYER

Matthew Novak
4 deals$117.3M volume
SELLER

Andrew Holmberg
4 deals$117.3M volume
SELLER


3 deals$108.8M volume
SELLER

Details

SOLD
IMAGE: John Meador, Charlie Luce, Aaron Snegg, Matthew Novak, Andrew Holmberg, Bahaar Sidhu, David Coffman, Michael Restivo & Tommy Hovey DATE: 05/14/2025 ADDRESS: 295 Union Street MARKET: East Walpole, MA ASSET TYPE: Industrial BUYER: Stockbridge SELLER: John Meador & Charlie Luce - Casco Real Estate Partners; Aaron Snegg, Matthew Novak, Andrew Holmberg & Bahaar Sidhu - Berkeley Partners (@BerkeleyPartners) BROKERS: David Coffman, Michael Restivo & Tommy Hovey - JLL (@JLL) SALE PRICE: $26,000,000 SF: 85,159 ~ PPSF: $305 NOTE: JLL Capital Markets arranged the $26M sale of 295 Union Street, an 85,159-square-foot industrial property in Walpole, MA, to Stockbridge.

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

$1,386,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$92,372.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,253.26
Annual Debt Service$1,479,039.17