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Ozan Bozbas & Ayetin Kuruca Acquires Industrial Property In West Springfield, MA For $2.1M

Property Image
SOLD
$2,100,000

Massachusetts

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Industrial2,350 SF
Sold 07/26/2023
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Property Image
SOLD

Ozan Bozbas & Ayetin Kuruca Acquires Industrial Property In West Springfield, MA For $2.1M

884 Westfield Street, West Springfield, Ma 01089

See Similar Deals
Industrial2,350 SF
Sold 07/26/2023
Contact now

Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$893
Total Square Footage:2,350 SF
Transaction Type:Sale

An industrial property located at 884 Westfield Street, West Springfield, MA 01089 has been sold for a total price of $2,100,000. The property spans across 2,350 square feet with a price per square foot of $894. The transaction took place in Massachusetts and involved the buyer Ozan Bozbas and Ayetin Kuruca, and the seller Atlantis Management Group. The deal was facilitated by brokers Jonathan Squires, Joshua Neustadter, and Austin Weiner from Cushman & Wakefield.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $2,100,000
  • Address: 884 Westfield Street, West Springfield, MA 01089
  • Square Footage: 2,350
  • Price per Square Foot: $894
  • Buyer: Ozan Bozbas & Ayetin Kuruca
  • Seller: Atlantis Management Group
  • Brokers: Jonathan Squires, Joshua Neustadter & Austin Weiner - Cushman & Wakefield

The involvement of Jonathan Squires, Joshua Neustadter, and Austin Weiner from Cushman & Wakefield showcases their expertise in brokering industrial property transactions. Their efforts played a pivotal role in connecting the buyer and seller and successfully finalizing the deal. This transaction demonstrates the demand for industrial properties in the West Springfield area and highlights the value of this particular asset.

Players

Josh Neustadter
60 deals$545.5M volume(212) 660-7739
BROKER

Jonathan Squires
Cushman & Wakefield
93 deals$712.3M volume(917) 445-0022
BROKER

Austin Weiner
Cushman & Wakefield
37 deals$281.6M volume
BROKER

SELLER

Details

SOLD
IMAGE: Joshua Neustadter, Jonathan Squires & Austin Weiner DATE: 07/26/2023 ADDRESS: 884 Westfield Street, West Springfield, MA 01089 MARKET: Massachusetts ASSET TYPE: Industrial BUYER: Ozan Bozbas & Ayetin Kuruca SELLER: Atlantis Management Group (@AtlantisFreshMarket) BROKERS: Jonathan Squires, Joshua Neustadter (@Josh_Neust) & Austin Weiner (@AustinWeiner)- Cushman & Wakefield (@CushWake) SALE PRICE: $2,100,000 SF: 2,350 ~ PPSF: $894

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$112,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86