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287 Turnpike Road

Atlantic Union Conference Association Of Seventh Day Adventists Acquires Office Building In Westborough For $6.4M
SOLDOffice

Atlantic Union Conference Association Of Seventh Day Adventists Acquires Office Building In Westborough For $6.4M

287 Turnpike Road

$6,400,000

$131/SF

Building Size

48,848 SF

Asset Type

Office

Closing

Dec 13, 2024

AI

The property asset involved is an office building located at 287 Turnpike Road, Westborough, MA. The building encompasses a total area of 48,848 square feet situated on 15.82 acres of land. The sale concluded for a price of $6,400,000, resulting in a price per square foot of $131.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $6,400,000
  • Address: 287 Turnpike Road
  • Market: Westborough, MA
  • Square Footage: 48,848
  • Acres: 15.82
  • Price per Square Foot: $131
  • Buyer: Atlantic Union Conference Association of Seventh Day Adventists
  • Broker: Bret O’Brien - Greater Boston Commercial Properties

Bret O’Brien from Greater Boston Commercial Properties, Inc. facilitated the sale, representing the buyer in the transaction. This engagement highlights the role of brokers in navigating property transactions within the market.

Players

Bret O'Brien

Greater Boston Commercial Properties

Broker

$62M

vol

13 deals

Broker

Westborough 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

2.48%

Cash-on-Cash

-0.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93