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The Davis Companies Acquires Industrial Property In Billerica, MA For $23.7M

Property Image
SOLD
$23,730,000
Timothy (Tim) Mulhall
Scott Dragos
Roy Sandeman
+ 4

Massachusetts

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Industrial91,649 SF
Sold 12/28/2021
the dealplayerscompscontact
Property Image
SOLD

The Davis Companies Acquires Industrial Property In Billerica, MA For $23.7M

900 Middlesex Turnpike

See Similar Deals
Industrial91,649 SF
Sold 12/28/2021
Timothy (Tim) Mulhall
Scott Dragos
Roy Sandeman
+ 4
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:Industrial
Price Per Square Foot:$258
Total Square Footage:91,649 SF
Transaction Type:Sale

The Davis Companies has acquired an industrial property located at 900 Middlesex Turnpike (Building 6) in Billerica, MA. The property covers an area of 91,649 square feet and was sold for a total of $23,730,000, resulting in a price per square foot of $259. The seller of the property was The RAM Companies. The sale transaction took place on December 28, 2021.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $23,730,000
  • Address: 900 Middlesex Turnpike (Building 6), Billerica, MA
  • Market: Billerica, MA
  • Buyer: The Davis Companies
  • Seller: The RAM Companies

The sale of the property was facilitated by the brokerage firm CBRE, with Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall, and Dan Hines representing both the buyer and the seller in the transaction.

Players

Chris Skeffington
CBRE
Chris Skeffington
19 deals$1.2B volume
BROKER
Scott Dragos
CBRE
Scott Dragos
20 deals$1.2B volume
BROKER
Doug Jacoby
CBRE
Doug Jacoby
21 deals$1B volume
BROKER
Roy Sandeman
CBRE
Roy Sandeman
17 deals$1.1B volume
BROKER
Timothy (Tim) Mulhall
CBRE
Timothy Mulhall
17 deals$917.9M volume
BROKER
Daniel "Dan" Hines
CBRE
Daniel Hines
16 deals$908.9M volume
BROKER
Anthony (Tony) Hayes
CBRE
Anthony Hayes
14 deals$853.9M volume
BROKER
The RAM Companies
The RAM Companies
BROKERAGE
The RAM Companies
The RAM Companies
SELLER

Details

SOLD
IMAGE: Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Tim Mulhall, Roy Sandeman, & Dan Hines DATE: 12/28/2021 ADDRESS: 900 Middlesex Turnpike (Building 6) MARKET: Billerica, MA ASSET TYPE: Industrial BUYER: The Davis Companies SELLER: The RAM Companies. BROKER: Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall, & Dan Hines - CBRE SALE PRICE: $23,730,000 SF: 91,649 ~ PPSF: $259

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

$1,265,599.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$84,307.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$112,492.31
Annual Debt Service$1,349,907.68