Higher Ground Education Acquires Office Building On 120 Wells Avenue In Newton, MA For $5.4M
120 Wells Avenue
$5,400,000
$364/SF
Building Size
14,800 SF
Asset Type
Office
Closing
Dec 7, 2022
AI
The office property located at 120 Wells Avenue in Newton, MA has been sold for a price of $5,400,000. The transaction involved a total square footage of 14,800, resulting in a price per square foot of $365. The property was purchased by Higher Ground Education from Southworth Development.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,400,000
- Square Footage: 14,800
- Price per Square Foot: $365
- Address: 120 Wells Avenue, Newton, MA
- Market: Newton, MA
The deal was facilitated by a team of brokers representing the parties involved. Meghan Huebner, Adam Meixner, Jeremy Freid, Jordan Sneider, and Tyler Capecci from 128 CRE, as well as Sarah Curry from JLL, played instrumental roles in the transaction.
Players
Newton 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
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93