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60 Codman Hill Road

Crossroads Community Church Leases 100,000 SF Mixed-Use Space At 60 Codman Hill Road
LEASEDMixed-use

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:

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

David Skinner

Prescott Advisory

Broker

$91M

vol

10 deals

Broker

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