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181 Ballardvale Street, Wil...

Gordon Brothers Acquires Office In Wilmington, MA For $33.75M
SOLDOffice

Gordon Brothers Acquires Office In Wilmington, MA For $33.75M

181 Ballardvale Street, Wilmington, Massachusetts 01887, United States

$33,750,000

Building Size

Asset Type

Office

Closing

Jan 26, 2022

AI

Located at 181 & 187 Ballardvale Street in Wilmington, MA, this office property spans across 15.38 acres. The transaction took place on January 27, 2022, and the property was sold for a total of $33,750,000. The office space measures 210,945 square feet, resulting in a price per square foot of $160.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $33,750,000
  • Address: 181 & 187 Ballardvale Street, Wilmington, MA
  • Market: Wilmington, MA
  • Acres: 15.38

Gordon Brothers represented by Alyssa Coughlin, along with Ciminelli Real Estate Corporation represented by Ryan Zebro, completed the purchase of this office property. Their expertise and negotiation skills played a crucial role in finalizing the transaction.

Players

Brian Walsh

EagleBridge Capital

Broker

$230.2M

vol

12 deals

Broker

Wilmington 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

0.47%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93