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540 Hillside Avenue, Needha...

Westport Properties & Heitman Acquires Industrial Property In Needham, MA For $25.1M
SOLDIndustrial

Westport Properties & Heitman Acquires Industrial Property In Needham, MA For $25.1M

540 Hillside Avenue, Needham, MA, USA

$25,100,000

$304/SF

Building Size

82,328 SF

Asset Type

Industrial

Closing

Jan 7, 2021

AI

The industrial property located at 540 Hillside Avenue in Needham, MA has been sold for a price of $25,100,000. The property sits on approximately 2 acres of land, resulting in a price per acre of $12,550,000. The sale took place on January 8, 2021.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $25,100,000
  • Address: 540 Hillside Avenue, Needham, MA
  • Market: Needham, MA

The property was sold by SSG Development and purchased by Westport Properties & Heitman, represented by Charles Byerly. The deal was facilitated by Charles Byerly, who acted as the buyer's representative in the transaction.

Players

H
HeitmanBuyer

Needham Heights 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

0.63%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93