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111 Speen Street, Framingha...

North Colony & Paradigm Acquires Office Building On Speen St In Framingham, MA For $13M
SOLDOffice

North Colony & Paradigm Acquires Office Building On Speen St In Framingham, MA For $13M

111 Speen Street, Framingham, Massachusetts 01701, United States

$13,000,000

$110/SF

Building Size

117,353 SF

Asset Type

Office

Closing

Mar 21, 2022

AI

The office property located at 111 Speen St in Framingham, MA has been sold for a total price of $13,000,000. The transaction took place on March 22, 2022. The property spans across 117,353 square feet, resulting in a price per square foot of $111. The sale was facilitated by brokers Frank Petz and John Nasca from Colliers International. The buyer of the property is North Colony and Paradigm, while the seller is TA Realty.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $13,000,000
  • Date: March 22, 2022
  • Address: 111 Speen St, Framingham, MA
  • Square Footage: 117,353
  • Price per Square Foot: $111
  • Buyer: North Colony & Paradigm
  • Seller: TA Realty
  • Brokers: Frank Petz & John Nasca - Colliers International

The successful sale of the office property was made possible by the collaborative efforts of Frank Petz and John Nasca from Colliers International. They represented the buyer, North Colony and Paradigm, and facilitated the transaction with the seller, TA Realty.

Players

John Nasca

Lee & Associates

Broker

$726M

vol

14 deals

Broker
TA Realty
TA RealtySeller

Framingham 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

1.22%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93