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175 Middlesex Turnpike Bill...

Affera Expands Lease At 175 Middlesex Turnpike In Bedford, MA
LEASEDOffice

Affera Expands Lease At 175 Middlesex Turnpike In Bedford, MA

175 Middlesex Turnpike Billerica, MA 01821, USA

Building Size

6,075 SF

Asset Type

Office

Closing

Sep 15, 2023

AI

Medical technology company Affera has expanded its lease at 175 Middlesex Turnpike in Bedford, MA. The property is an office with a total area of 6,075 square feet. The lease agreement was finalized on September 15, 2023.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 175 Middlesex Turnpike, Bedford, MA
  • Market: Bedford, MA
  • Tenant: Affera
  • Landlord: ConRes IT Solutions

Affera's decision to expand its lease at 175 Middlesex Turnpike reflects its ongoing growth and need for additional space. The company initially leased 5,575 square feet but has now increased its occupancy to 6,075 square feet. The expansion demonstrates the company's confidence in the location and its commitment to operating in Bedford, MA. ConRes IT Solutions, the landlord, facilitated the leasing process, while Joseph Doyle from Cresa represented Affera's interests in the deal.

Players

Joseph Doyle

Cresa

Broker

1 deal

Broker

Bedford 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