Updated Feb 25, 2025
Bill Manley Of Calare Properties Acquires Industrial Asset From Shawn Lillie & Alan Contois For $10M
1 Wesley Street
$10,000,000
$98/SF
Building Size
101,803 SF
Asset Type
Industrial
Closing
Nov 15, 2024
About this deal
AI
This industrial asset located at 1 Wesley Street in Malden, MA, has a total square footage of 101,803. The sale transaction was completed for a price of $10,000,000, resulting in a price per square foot of $98.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $10,000,000
- Buyer: Bill Manley - Calare Properties
- Seller: Shawn Lillie & Alan Contois
- Broker: Sam Peterson - Eastern Retail Properties
Bill Manley represented Calare Properties as the buyer in this transaction, while Shawn Lillie and Alan Contois were the sellers. The deal was facilitated by broker Sam Peterson from Eastern Retail Properties, who played a key role in the negotiation and closing of this sale.
Players
Malden 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93