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60 Tower Road, Waltham, Mas...

Markforged Signs 10-Year Modified Gross Lease For 120,681 SF Office/R&D Space In Waltham, MA With Landlord Boston Properties And Reps Victoria Paolino, Philip Verre & Rob Byrne - Cushman & Wakefield
LEASEDOffice

Markforged Signs 10-Year Modified Gross Lease For 120,681 SF Office/R&D Space In Waltham, MA With Landlord Boston Properties And Reps Victoria Paolino, Philip Verre & Rob Byrne - Cushman & Wakefield

60 Tower Road, Waltham, Massachusetts 02451, United States

Building Size

120,681 SF

Asset Type

Office

Closing

Dec 17, 2021

AI

Markforged has recently signed a lease for an office/R&D space located at 60 Tower Rd in Waltham, MA. The property spans 120,681 square feet and is owned by Boston Properties.

Summary of transaction details

  • Property Type: Office/R&D
  • Transaction Date: 12/17/2021
  • Address: 60 Tower Rd, Waltham, MA
  • Market: Waltham, MA
  • Landlord: Boston Properties
  • Tenant: Markforged
  • Landlord's Representative: Victoria Paolino
  • Tenant's Representatives: Philip Verre & Rob Byrne - Cushman & Wakefield
  • Lease Type: Modified Gross Lease
  • Lease Terms: 10 Years

Rob Byrne, Philip Verre, and Victoria Paolino were involved in the lease transaction as representatives for Markforged (tenant) and Boston Properties (landlord) respectively.

Players

Philip Verre

Cushman & Wakefield

Broker

$15M

vol

6 deals

Broker
Boston Properties
Boston PropertiesLandlord

Waltham 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