NorthBridge Partners Acquires 52,000 SF Industrial Site In Fall River, MA
589 Commerce Drive & 599 Commerce Drive
$7,155,382
$68/SF
Building Size
104,000 SF
Asset Type
Industrial
Closing
Dec 18, 2023
AI
Atlantic Capital Partners facilitated the sale of 589 & 599 Commerce Drive, a two-building 52,000 SF industrial site located in Fall River, MA. The property was sold for a total price of $7,155,382, resulting in a price per square foot of $138.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $7,155,382
- Square Footage: 52,000 SF
- Address: 589 & 599 Commerce Drive, Fall River, MA
- Market: Fall River, MA
The buyer for the transaction was NorthBridge Partners, while the sellers were Kelly Mendell and Michael Guimond, representing Spartan BSMS Holdings. The brokers involved in the deal were Tommy Hovey, Eric Suffoletto, and Danny Griffin, all from Atlantic Capital Partners.
Atlantic Capital Partners facilitated the sale of 589 & 599 Commerce Drive in Fall River, MA, a two-building industrial site spanning 52,000 square feet. The property was sold to NorthBridge Partners for a total price of $7,155,382, equivalent to a price per square foot of $138. The sellers, Kelly Mendell and Michael Guimond, represented Spartan BSMS Holdings. Tommy Hovey, Eric Suffoletto, and Danny Griffin, who are brokers from Atlantic Capital Partners, were involved in the transaction.
Players
Fall River 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
2.22%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93