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1 Research Drive

Think Clean Leases 11823 SF Office At 1 Research Drive In Westborough From David Ferris
LEASEDOffice

Think Clean Leases 11823 SF Office At 1 Research Drive In Westborough From David Ferris

1 Research Drive

Building Size

11,823 SF

Asset Type

Office

Closing

Jan 10, 2025

AI

The property asset involved in the transaction is an office space located at 1 Research Drive in Westborough, MA. The total square footage of the asset is 11,823 square feet, providing ample room for business operations. The property is situated within a market known for its commercial developments, which supports a thriving business environment.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 1 Research Drive, Westborough, MA
  • Asset Size: 11,823 SF
  • Landlord: David Ferris - Ferris Development
  • Tenant: Think Clean
  • Landlord's Representative: CBRE
  • Tenant's Representative: Nathaniel Heilbron - Cresa

The deal was facilitated by Cresa Boston, with Nathaniel Heilbron representing Think Clean. This office lease aligns with Think Clean's rebranding and growth initiatives, offering modern amenities and a significantly increased operational footprint within the planned budget.

Players

Nathaniel Heilbron

Cresa

Broker

2 deals

Broker

Westborough Office Market Snapshot

Boundary boundary · Office · 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