Updated Oct 29, 2024
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
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Boundary boundary · Industrial · Sale transactions
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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