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300 Riverpark Drive, North ...

Wheelock Street Capital & Camber Development Acquire Industrial Property In North Reading, MA For $82.55M
SOLDIndustrial

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

Pete Rogers

Cushman & Wakefield

Broker

$274.1M

vol

4 deals

Broker
Lincoln Property Company
Lincoln Property CompanyBrokerage
Lincoln Property Company
Lincoln Property CompanySeller

North Reading 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

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93