Wheelock Street Capital & Camber Development Acquire Industrial Property In North Reading, MA For $82.55M
300 Riverpark Drive, North Reading, Massachusetts 01864, United States
$82,550,000
$360/SF
Building Size
228,921 SF
Asset Type
Industrial
Closing
Jan 24, 2022
AI
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
North Reading Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93