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John P. Murphy Of Atlantic Management Acquires Southborough Office Property For $26.1M
SOLD
$26,100,000
Massachusetts
See Similar DealsOffice193,000 SF
Sold 12/05/2024
SOLD
John P. Murphy Of Atlantic Management Acquires Southborough Office Property For $26.1M
32 Coslin Drive
See Similar DealsOffice193,000 SF
Sold 12/05/2024
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$135
Total Square Footage:193,000 SF
Transaction Type:Sale
The office property located at 32 Coslin Drive in Southborough, MA consists of 193,000 square feet situated on 20 acres. It was sold for a total of $26,100,000 with a price per square foot of $135. The acquisition was partially financed with a loan of $24,700,000 from Bank of New England.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $26,100,000
- Address: 32 Coslin Drive
- Market: Southborough, MA
- Loan Amount: $24,700,000
- Buyer: John P. Murphy - Atlantic Management
John P. Murphy represents Atlantic Management in this acquisition, signifying their strategic investment in the Southborough office sector. The transaction marks a notable addition to their portfolio in the region.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,392,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$92,727.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,727.32
Annual Debt Service$1,484,727.79
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