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
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