The Silverbrick Group Acquires Office Building On 340 Main Street In Worcester, MA For $14.5M
SOLD
$14,500,000
Massachusetts
See Similar DealsOffice333,302 SF
Sold 12/10/2020
SOLD
The Silverbrick Group Acquires Office Building On 340 Main Street In Worcester, MA For $14.5M
340 Main Street, Worcester, MA, USA
See Similar DealsOffice333,302 SF
Sold 12/10/2020
Summary
MASSACHUSETTS
Asset Type:Office
Price Per Square Foot:$43
Total Square Footage:333,302 SF
Transaction Type:Sale
The office property located at 340 Main Street in Worcester, MA has been sold for a total price of $14,500,000. The transaction took place on December 10, 2020, and the property spans across 333,302 square feet. The price per square foot for this sale equates to approximately $44.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $14,500,000
- Address: 340 Main Street
- Market: Worcester, MA
The seller in this transaction was Commerce Associates, LLC, and the buyer of the property was The Silverbrick Group. The deal was facilitated by brokers from JLL Capital Markets, namely Adam Dunn, Mike Restivo, and Chris Phaneuf.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$773,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77
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