Colliers Brokers Sale Of Research And Development Park In Bedford For $96M
4 Crosby Drive, 8 Crosby Drive, 14 Crosby Drive, 16 Crosby Drive & 18 Crosby Drive
$96,000,000
$40/SF
Building Size
2,398,490 SF
Asset Type
Mixed-use
Closing
Jan 30, 2025
AI
The asset involved in the transaction is a Research and Development Park located at 4, 8, 14, 16 & 18 Crosby Drive, Bedford, MA. The sale price was $96,000,000, and the property encompasses a total square footage of 479,698, resulting in a price per square foot of $200.
Summary of transaction details:
- Property Type: Research and Development Park
- Transaction Amount: $96,000,000
- Square Footage: 479,698
- Price Per Square Foot: $200
- Address: 4, 8, 14, 16 & 18 Crosby Drive
- Market: Bedford, MA
The brokers representing this transaction are Matthew Sherry, Frank Petz, Rob Schlesinger & Daniel Hincks from Colliers, highlighting a collaborative effort by experienced professionals in facilitating this deal.
Players
Bedford Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93