Wheelock Street Capital & Camber Development Acquire Industrial Property In North Reading, MA For $82.55M
SOLD
$82,550,000
Massachusetts
See Similar DealsIndustrial228,921 SF
Sold 01/25/2022
SOLD
Wheelock Street Capital & Camber Development Acquire Industrial Property In North Reading, MA For $82.55M
300 Riverpark Drive, North Reading, Massachusetts 01864, United States
See Similar DealsIndustrial228,921 SF
Sold 01/25/2022
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$360
Total Square Footage:228,921 SF
Transaction Type:Sale
The industrial property located at 300 Riverpark Dr in North Reading, MA has been sold in a transaction. The property spans over 20 acres and is situated in a thriving market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $82,550,000
- Address: 300 Riverpark Dr
- Market: North Reading, MA
- Square Footage: 228,921
Wheelock Street Capital and Camber Development acquired the property from the sellers, Lincoln Property Company, Ritz Banc Group, and Ibdar Capital. The deal was facilitated by the seller's representatives, Dave Pergola, Brian Doherty, and Pete Rogers of Cushman & Wakefield. The sale price equates to an average price per square foot of $361.
Players
BROKERAGE
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SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,402,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$293,282.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$391,329.12
Annual Debt Service$4,695,949.38
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