IQHQ Acquires Office Building In Cambridge, MA For $54M
SOLD
Massachusetts
See Similar DealsOffice90,000 SF
Sold 11/17/2020
SOLD
IQHQ Acquires Office Building In Cambridge, MA For $54M
1 Alewife Center, Cambridge, MA 02140, USA
See Similar DealsOffice90,000 SF
Sold 11/17/2020
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$600
Total Square Footage:90,000 SF
Transaction Type:Sale
The office property located at 1 Alewife Center in Cambridge, MA has been sold for a total price of $54,000,000. The transaction took place on 11/17/2020 and the property spans across 90,000 square feet, resulting in a price per square foot of $600. The seller of the property was James Campbell Co, while the buyer was IQHQ, represented by Tracy Murphy. Matthew Pullen from Newmark acted as the broker in this deal.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $54,000,000
- SF: 90,000
- PPSF: $600
- Seller: James Campbell Co
- Buyer: IQHQ - Tracy Murphy
- Broker: Matthew Pullen - Newmark
Tracy Murphy, representing IQHQ, played a key role in acquiring the property at 1 Alewife Center in Cambridge, MA. The seller, James Campbell Co, agreed to the sale coordinated by broker Matthew Pullen from Newmark.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,880,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$191,850.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$255,987.55
Annual Debt Service$3,071,850.59
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