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Higher Ground Education Acquires Office Building On 120 Wells Avenue In Newton, MA For $5.4M

Property Image
SOLD
$5,400,000
Jordan Sneider
Jeremy Freid
+ 3

Massachusetts

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Office14,800 SF
Sold 12/07/2022
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Property Image
SOLD

Higher Ground Education Acquires Office Building On 120 Wells Avenue In Newton, MA For $5.4M

120 Wells Avenue

See Similar Deals
Office14,800 SF
Sold 12/07/2022
Jordan Sneider
Jeremy Freid
+ 3
Contact now

Summary

MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$364
Total Square Footage:14,800 SF
Transaction Type:Sale

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

Adam Meixner
19 deals$150M volume(617) 304-6611
BROKER

Jeremy Freid
128 CRE
19 deals$150M volume(617) 959-1319
BROKER

Jordan Sneider
13 deals$129.6M volume
BROKER

Tyler Capecci
128 CRE
19 deals$150M volume(781) 640-5858
BROKER

Meghan Huebner
128 CRE
12 deals$68.1M volume(617) 916-1028
BROKER

Sarah Curry
JLL
1 deal$5.4M volume(617) 316-6483
BROKER

BUYER

Details

SOLD
IMAGE: Adam Meixner, Meghan Huebner, Jeremy Freid, Jordan Sneider & Tyler Capecci DATE: 12/07/2022 ADDRESS: 120 Wells Avenue MARKET: Newton, MA ASSET TYPE: Office BUYER: Higher Ground Education SELLER: Southworth Development BROKERS: Meghan Huebner (@TheWanderingRabbit), Adam Meixner (@AdamMeixner), Jeremy Freid (@JeremyaFreid), Jordan Sneider (@JSneids) & Tyler Capecci (@TCapech) - 128 CRE; Sarah Curry - JLL SALE PRICE: $5,400,000 SF: 14,800 ~ PPSF: $365 Meixner

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Deal Type
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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$19,185.06
Cash-on-Cash Return-1.27%
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