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108 Myrtle St, Quincy, MA, ...

Updated Oct 29, 2024

North Colony Asset Management Acquires Properties From Campanelli For $28.35 Million In Quincy
SOLDOffice

North Colony Asset Management Acquires Properties From Campanelli For $28.35 Million In Quincy

108 Myrtle St, Quincy, MA, 02171

$28,350,000

$176/SF

Building Size

160,912 SF

Asset Type

Office

Closing

Nov 19, 2023

About this deal

AI

The property involved in this transaction is located at 108 Myrtle St, Quincy, MA, 02171. The sale was for a total price of $28,350,000.00 and encompasses a total square footage of 160,912. The property is situated in the Quincy market.

Summary of transaction details:

  • Property Type: Class A office building
  • Transaction Amount: $28,350,000.00
  • Address: 108 Myrtle St, Quincy, MA, 02171
  • Market: Quincy
  • Seller: Campanelli
  • Buyer: North Colony Asset Management
  • Seller's Representative: Matthew (Matt) Pullen - Newmark
  • Broker: Edward Maher - Newmark
  • Square Footage: 160,912

The transaction was overseen by a team from Newmark, including U.S. head of capital markets Robert Griffin, vice chairman Edward Maher, executive managing director Matthew Pullen, director James Tribble, and associate director Samantha Hallowell. The sale was executed on behalf of Campanelli, a firm with extensive development experience in Quincy, with support from other NKF personnel such as Michael Frisoli and Tyler McGrail.

Players

Matthew Pullen

Newmark

Broker

$6.2B

vol

57 deals

Broker
NM
North Colony Asset ManagementBuyer

Quincy Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $176 per square foot on a published $28.4M for 160,912 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.56%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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