Crossroads Community Church Leases 100,000 SF Mixed-Use Space At 60 Codman Hill Road
60 Codman Hill Road
Building Size
100,000 SF
Asset Type
Mixed-use
Closing
Dec 6, 2024
AI
The property asset involved in this transaction is a mixed-use facility located at 60 Codman Hill Road, Boxborough, MA, with a total square footage of 100,000. The property is now leased to Crossroads Community Church, which will benefit from improved regional access along I-495.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not disclosed
- Address: 60 Codman Hill Road
- Market: Boxborough, MA
- Landlord: Concord Property Management
- Tenant: Crossroads Community Church
- Brokers: David Skinner - Prescott Advisory & Nate Nickerson - Fieldstone Commercial Properties
The deal features involvement from Concord Property Management as the landlord and Crossroads Community Church as the tenant. Brokers David Skinner from Prescott Advisory and Nate Nickerson from Fieldstone Commercial Properties facilitated this transaction, ensuring both parties' interests were represented effectively.
Players
Boxborough Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93