Updated Dec 4, 2024
Science From Scientists Leases 4700 SF Office At Cummings Properties In Woburn MA
Tower Office Park
Building Size
4,700 SF
Asset Type
Office
Closing
Sep 27, 2024
About this deal
AI
The property involved in this transaction is a 4,700 square foot office space located at 2-100 Tower Office Park in Woburn, MA. This office asset is part of the Cummings Properties portfolio and serves as the new headquarters for Science from Scientists.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 2-100 Tower Office Park
- Market: Woburn, MA
- Landlord: Mike Truesdale - Cummings Properties
- Tenant: Science from Scientists
- Broker: Annie Coe - Colliers
The transaction features Mike Truesdale representing Cummings Properties as the landlord and Annie Coe acting as the broker from Colliers in the lease agreement. The tenant, Science from Scientists, is an educational nonprofit organization that has moved its New England headquarters to this new location.
Players
Woburn Office Market Snapshot
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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