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110 Canal Street

Rhino Capital Advisors Acquires Unoccupied Office Building In Boston For $14.6M
SOLDOffice

Rhino Capital Advisors Acquires Unoccupied Office Building In Boston For $14.6M

110 Canal Street

$14,600,000

$260/SF

Building Size

56,000 SF

Asset Type

Office

Closing

Dec 29, 2023

AI

Rhino Capital Advisors LLC, represented by Michael Olson, acquired an unoccupied 56,000-square-foot office building located at 110 Canal Street in Boston, Massachusetts. The property was sold by Alcion Ventures and Quaker Lane Capital, with Mark Potter and Puja Suneja Peruto serving as the sellers' representatives. The transaction took place on December 29, 2023, and the sale price was $14.6 million.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: $14,600,000
  • Square Footage: 56,000
  • Price per Square Foot: $261
  • Address: 110 Canal Street, Boston, MA
  • Seller: Mark Potter - Alcion Ventures & Puja Suneja Peruto - Quaker Lane Capital
  • Buyer: Michael Olson - Rhino Capital Advisors LLC

This transaction involved Rhino Capital Advisors LLC, led by Michael Olson, as the buyer of the office building. Mark Potter, representing Alcion Ventures, and Puja Suneja Peruto, representing Quaker Lane Capital, represented the sellers in the deal.

Players

Michael Olson

Rhino Capital Advisors

Buyer

$156.1M

vol

7 deals

Buyer

Navarre Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93