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185 Commercial Street

Will Gilkeson Of Bridge Logistics Properties Acquires Industrial Facilities In Malden For $15.4M
SOLDIndustrial

Will Gilkeson Of Bridge Logistics Properties Acquires Industrial Facilities In Malden For $15.4M

185 Commercial Street & 197 Commercial Street

$15,400,000

$125/SF

Building Size

122,290 SF

Asset Type

Industrial

Closing

Mar 12, 2025

AI

The property involved in the transaction consists of two industrial facilities located at 185 Commercial Street and 197 Commercial Street in Malden, MA. The sale price for the assets was $15,400,000, and the total square footage of the properties is 61,145, resulting in a price per square foot of $251.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $15,400,000
  • Location: 185 Commercial Street & 197 Commercial Street, Malden, MA
  • Buyer: Will Gilkeson - Bridge Logistics Properties
  • Seller: George Gregory - Northbridge Partners
  • Broker: George O'Connor - Cushman & Wakefield
  • Leasing Terms: 100% leased to Beacon Roofing Supply through 2031

Notably, Will Gilkeson represents Bridge Logistics Properties in the acquisition, while George Gregory represents Northbridge Partners, facilitating the transaction through George O'Connor of Cushman & Wakefield.

Players

George O'Connor

Cushman & Wakefield

Broker

$15.4M

vol

1 deal

Broker

Will Gilkeson

Bridge Logistics Properties (BLP)

Buyer

$297.7M

vol

5 deals

Buyer
Northbridge Partners
Northbridge PartnersSeller

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

1.03%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93