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500 Cummings Center

Inogen Leases 6000 SF Office Space At 500 Cummings Center In Beverly MA With Cummings Properties
LEASEDOffice

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

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.

Players

Christian Vallis

CBRE

Broker

2 deals

Broker

Beverly 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