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1645 Washington Street

John Dudley Acquires Pope Industrial Park In Holliston MA For $6 Million From Dan King
SOLDIndustrial

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:

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

James Keefe

Greater Boston Commercial Properties

Broker

$42.9M

vol

16 deals

Broker

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