Azad Legacy Partners Acquires Office Building In Needham, MA For $8.5M
175 Highland Ave Needham, Ma 02494, Usa
$8,500,000
$212/SF
Building Size
40,000 SF
Asset Type
Office
Closing
Jun 1, 2023
AI
The office property located at 175 Highland Avenue in Needham, MA has been sold in a transaction. The property spans a total area of 40,000 square feet and was sold at a price of $8,500,000, resulting in a price per square foot of $213. The transaction took place on June 1, 2023.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $8,500,000
- Address: 175 Highland Avenue, Needham, MA
- Market: Needham, MA
- Buyer: Azad Legacy Partners
- Seller: The Winhall Companies
- Seller's Representative: Tyler Capecci, Jeremy Freid, Adam Meixner, Meghan Huebner & Jordan Sneider - 128 CRE
- Square Footage: 40,000
- Price per Square Foot: $213
The sale of the property was facilitated by Tyler Capecci, Jeremy Freid, Adam Meixner, Meghan Huebner, and Jordan Sneider of 128 CRE. Their expertise and representation played a crucial role in the successful completion of the transaction.
Players
Boston 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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93