Updated Feb 17, 2025
Inogen Leases 6000 SF Office Space At 500 Cummings Center In Beverly MA With Cummings Properties
500 Cummings Center
Building Size
6,000 SF
Asset Type
Office
Closing
Feb 7, 2025
About this deal
AI
An office space comprising 6,000 square feet located at 500 Cummings Center in Beverly, MA has been leased. This property is part of a growing life sciences cluster in the area.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 500 Cummings Center
- Market: Beverly, MA
- Landlord: Dennis A. Clarke - Cummings Properties
- Tenant: Kevin R. Smith - Inogen
- Landlord's Representative: Mary Carroll - Cummings Properties
- Tenant's Representative: Christian Vallis - CBRE
The lease transaction was facilitated by Mary Carroll from Cummings Properties representing the landlord and Christian Vallis from CBRE representing the tenant, Inogen, a medtech firm.
On the Map
Office
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Players
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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