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225 Foxborough Blvd Foxboro...

Fred Starikov Acquires 46,839 SF Office Building In Foxborough, MA For $6M
SOLDOffice

Fred Starikov Acquires 46,839 SF Office Building In Foxborough, MA For $6M

225 Foxborough Blvd Foxborough, MA 02035, USA

$6,000,000

$128/SF

Building Size

46,839 SF

Asset Type

Office

Closing

Jul 28, 2023

AI

225 Foxborough Boulevard, an office property located in Foxborough, MA, was recently sold for $6 million. The multi-tenant investment property spans 46,839 square feet and was 78.5% leased at the time of the transaction. Situated on 9.7 acres near I-95 and I-495, the property attracted interest despite the decreased demand for office real estate in the post-COVID market. The buyer, Fred Starikov, purchased the property for a price of $128 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $6,000,000
  • Square Footage: 46,839 sq ft
  • Address: 225 Foxborough Boulevard, Foxborough, MA
  • Market: Foxborough, MA

Representing the seller in the transaction were Bret O'Brien and James Keefe of Greater Boston Commercial Properties. Their firm also facilitated the procurement of the buyer, Fred Starikov. Greater Boston Commercial Properties acted as the sole broker of record for this deal.

Players

Bret O'Brien

Greater Boston Commercial Properties

Broker

$62M

vol

13 deals

Broker
Fred Starikov

Fred Starikov

Buyer

$66.7M

vol

12 deals

Buyer

Market 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

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93