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Michael C. McMillen Of RCG Ventures Acquires Retail Plaza From Michael Weil For $30.6M
SOLD
$30,600,000
Massachusetts
See Similar DealsRetail231,197 SF
Sold 04/11/2025
SOLD
Michael C. McMillen Of RCG Ventures Acquires Retail Plaza From Michael Weil For $30.6M
100 Charlton Road
See Similar DealsRetail231,197 SF
Sold 04/11/2025
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$132
Total Square Footage:231,197 SF
Transaction Type:Sale
The property asset involved in this transaction is a retail space located at 100 Charlton Road, Sturbridge, MA. It was sold for a price of $30,600,000, encompassing a total square footage of 231,197 and translating to a price per square foot of $132.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $30,600,000
- Buyer: Michael C. McMillen - RCG Ventures
- Seller: Michael Weil Director - Global Net Lease
- Square Footage: 231,197
- Price Per Square Foot: $132
This transaction is part of a larger acquisition, where RCG Ventures purchased The Center at Hobbs Brook as part of a $1.1B national retail portfolio deal, showcasing the company's strategy in expanding their retail holdings.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,632,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$108,715.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$145,059.61
Annual Debt Service$1,740,715.34
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