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50 Washington St Westboroug...

University Of Massachusetts Leases Office Space At 50 Washington St. In Westborough MA
LEASEDOffice

University Of Massachusetts Leases Office Space At 50 Washington St. In Westborough MA

50 Washington St Westborough, MA 01581, USA

$25

$25/SF

Building Size

47,978 SF

Asset Type

Office

Closing

Jun 2, 2023

AI

The University of Massachusetts (UMass) President's Office has signed a lease for 47,978 square feet of space at 50 Washington St. in Westborough, MA. The three-story office building, spanning a total of 92,600 square feet, will serve as the new location for UMass. The lease was facilitated by Alison Powers and Bob McGuire from JLL, representing the landlord, Carruth Capital. William Kelleher, IV, James Umphrey, and Philip DeSimone from Kelleher & Sadowsky acted as the tenant's representatives.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not disclosed
  • Address: 50 Washington Street, Westborough, MA
  • Market: Westborough, MA
  • Landlord: Carruth Capital
  • Tenant: University of Massachusetts
  • Landlord's Representative: Alison Powers & Bob McGuire - JLL
  • Tenant's Representative: William Kelleher, IV, James Umphrey & Philip DeSimone - Kelleher & Sadowsky
  • Asking Rent: $25/ft.
  • Square Footage: 47,978

Players

William Kelleher, IV

Kelleher & Sadowsky

Broker

$15.4M

vol

3 deals

Broker
CC
Carruth CapitalLandlord

Boston 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

634520.00%

Cash-on-Cash

-181347.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93