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51 Middlesex St, North Chel...

Updated Oct 29, 2024

Manzo Freeman Development Acquires The Landing At Chelmsford Mills For $14.85M
SOLDIndustrial

Manzo Freeman Development Acquires The Landing At Chelmsford Mills For $14.85M

51 Middlesex St, North Chelmsford, Ma 01863

$14,850,000

$52/SF

Building Size

285,000 SF

Asset Type

Industrial

Closing

Aug 24, 2023

About this deal

AI

The Landing at Chelmsford Mills, an industrial property located in North Chelmsford, Massachusetts, has been acquired by Manzo Freeman Development for a total of $14.85 million. The property is situated at 51 Middlesex St and spans approximately 285,000 square feet. With a price per square foot of $52, this transaction represents a significant investment for Manzo Freeman Development.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $14,850,000
  • Address: 51 Middlesex St, Chelmsford, MA
  • Square Footage: 285,000
  • Price per Square Foot: $52

Manzo Freeman Development, led by Michael K. Manzo, has successfully closed the deal to acquire The Landing at Chelmsford Mills from Chelmsford Holdings. This acquisition showcases the strategic investment decisions made by Manzo Freeman Development, highlighting their commitment to expanding their industrial property portfolio. The transaction demonstrates the company's confidence in the potential of the North Chelmsford market and their ability to execute substantial acquisitions in the real estate sector.

Players

MD
Manzo Freeman DevelopmentBuyer

Santa Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $52 per square foot on a published $14.9M for 285,000 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.07%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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