Spirit Realty Capital Acquires Alsen Mapes Industrial Park In Dorchester For $26.8M
40 Sturtevant St Dorchester, MA 02122, USA
$26,800,000
Building Size
—
Asset Type
Industrial
Closing
Jul 5, 2023
AI
Spirit Realty Capital, represented by Jackson Hsieh, has acquired the Alsen Mapes industrial park located at 40-44 Sturtevant Street and 50 Park Street in Dorchester's Fields Corner neighborhood for $26.8 million. The park is home to Dutch Maid Bakery and Royal Label Co.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $26,800,000
- Buyer: Spirit Realty Capital - Jackson Hsieh
- Seller: Keystone Capital Management
- Market: Dorchester & Boston, MA
- Address: 40-44 Sturtevant Street & 50 Park Street
Spirit Realty Capital, a real estate investment company, acquired the Alsen Mapes industrial park in Dorchester's Fields Corner neighborhood. The acquisition was made for a total price of $26.8 million. The park is known for its tenants Dutch Maid Bakery and Royal Label Co. The transaction was facilitated by Jackson Hsieh of Spirit Realty Capital.
Boston 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93