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
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