Intercontinental Real Estate Acquires Industrial Property In Boston, MA For $107.5M
SOLD
$107,500,000
+ 2
Massachusetts
See Similar DealsIndustrial196,000 SF
Sold 08/31/2022
SOLD
Intercontinental Real Estate Acquires Industrial Property In Boston, MA For $107.5M
8 Industrial Drive, Boston, MA, 02136
See Similar DealsIndustrial196,000 SF
Sold 08/31/2022
+ 2
Summary
MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$548
Total Square Footage:196,000 SF
Transaction Type:Sale
The industrial property located at 8 Industrial Drive in Boston, MA has been sold in a transaction. The property encompasses an area of approximately 196,000 square feet and has been sold for a total price of $107,500,000, resulting in a price per square foot of $548. The sale took place on August 31, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $107,500,000
- Address: 8 Industrial Drive, Boston, MA
- Market: Boston, MA
The buyer of the property is Intercontinental Real Estate Corporation, while the seller is First Highland Management & Development. The deal was facilitated by the brokers Dave Pergola, Brian Doherty, Pete Rogers, Rob Byrne, and Jim Murphy from Cushman & Wakefield.
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30 years
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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,733,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$381,924.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$509,604.84
Annual Debt Service$6,115,258.13
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