Oliver Street Capital & Bain Capital Real Estate Acquire Industrial Property In Andover, MA For $10.35M
7 Connector Road, Andover, MA 01810, USA & 7 Connector Road
$10,350,000
$86/SF
Building Size
60,000 SF
Asset Type
Industrial
Closing
Aug 18, 2021
AI
Oliver Street Capital and Bain Capital Real Estate have purchased an industrial property located at 7 Connector Road in Andover, MA. The property, spanning 60,000 square feet, was sold by Stickamayka Group, LLC. The deal was facilitated by Alex Berger and Matt Quinlan of SVN | Parsons Commercial Group | Boston. The sale price for the property was $10,350,000, resulting in a price per square foot of $173.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,350,000
- Address: 7 Connector Road, Andover, MA
- Market: Andover, MA
- Buyer: Oliver Street Capital & Bain Capital Real Estate
- Seller: Stickamayka Group, LLC
- Brokers: Alex Berger & Matt Quinlan - SVN | Parsons Commercial Group | Boston
- Square Footage: 60,000
- Price Per Square Foot: $173
Alex Berger and Matt Quinlan represented the buyer and seller respectively in this transaction.
Players
Andover 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
1.53%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93