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21a Concord St, Wilmington,...

Local 103, I.B.E.W Acquires Office Building In Wilmington, MA For $3.18M
SOLDOffice

Local 103, I.B.E.W Acquires Office Building In Wilmington, MA For $3.18M

21a Concord St, Wilmington, Massachusetts, USA

$3,180,000

$221/SF

Building Size

14,350 SF

Asset Type

Office

Closing

Aug 5, 2021

AI

The office property located at 21A Concord St in Wilmington, MA has been sold for a price of $3,180,000. The transaction took place on 08/06/2021 and the property spans over an area of 14,350 square feet. The buyer, Local 103, I.B.E.W, acquired the property from the seller, E & H Development LLC. The sale price equates to $222 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $3,180,000
  • Address: 21A Concord St, Wilmington, MA
  • Market: Wilmington, MA
  • Seller: E & H Development LLC
  • Buyer: Local 103, I.B.E.W
  • Seller's Representative: Micah Stubblebine - The Stubblebine Company/CORFAC International
  • Buyer's Representative: Ed Carbone - Carbone Real Estate

Micah Stubblebine from The Stubblebine Company/CORFAC International represented the seller, E & H Development LLC, in the transaction. On the other hand, Ed Carbone from Carbone Real Estate represented the buyer, Local 103, I.B.E.W. Both parties reached an agreement on the sale of the property, which is situated in the Wilmington market.

Players

Micah Stubblebine

The Stubblebine Company

Broker

$132.1M

vol

16 deals

Broker

Wilmington Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.99%

Cash-on-Cash

-1.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93