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
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