John Dudley Acquires Pope Industrial Park In Holliston MA For $6 Million From Dan King
1645 Washington Street
$6,000,000
$71/SF
Building Size
84,199 SF
Asset Type
Industrial
Closing
Dec 4, 2024
AI
The property involved in this transaction is the Pope Industrial Park, which spans 33.88 acres and consists of 11 parcels and 9 buildings with a total square footage of 84,199. Located at 1645 Washington Street in Holliston, MA, the property was sold for a price of $6,000,000. The industrial park includes various tenants, a billboard, and a cell tower, with approximately 22 acres of undeveloped land situated at the rear of the park.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,000,000
- Buyer: John Dudley
- Seller: Dan King
- Seller's Representative: James Keefe & Nishan Papazian - Greater Boston Commercial Properties
- Square Footage: 84,199
- Sale Price per Square Foot: $71
- Date of Sale: 12/04/2024
- Market: Holliston, MA
James Keefe and Nishan Papazian from Greater Boston Commercial Properties Inc. represented the seller in this complex transaction. The seller, Dan King, expressed appreciation for the brokerage's efforts in navigating the intricacies of the multi-tenant industrial park sale. John Dudley, the buyer, acknowledged the commitment and expertise of James and Nishan in completing this challenging deal, highlighting their capability to manage the demands of the transaction effectively.
Players
Holliston 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93