facebook

traded

+ Submit
Home

/

Deals

/

Massachusetts

/

Industrial

/

Sale

/

589 Commerce Drive

NorthBridge Partners Acquires 52,000 SF Industrial Site In Fall River, MA
SOLDIndustrial

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

Eric Suffoletto

Atlantic Retail

Broker

$92M

vol

15 deals

Broker
Northbridge Partners
Northbridge PartnersBrokerage

Fall River 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

2.22%

Cash-on-Cash

-0.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93