Updated Oct 28, 2024
Innovative Industrial Properties, Inc Acquires Retail Property In Taunton, MA For $40M
30 Mozzone Boulevard, Taunton, Massachusetts 02780, United States
$40,000,000
$384/SF
Building Size
104,000 SF
Asset Type
Retail
Closing
May 15, 2022
About this deal
AI
Innovative Industrial Properties, Inc has acquired a retail property located at 30 Mozzone Blvd in Taunton, MA. The property spans 104,000 square feet and was sold for a total of $40,000,000, resulting in a price per square foot of $385. The transaction took place on 05/16/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $40,000,000
- Address: 30 Mozzone Blvd, Taunton, MA
- Market: Taunton, MA
- Buyer: Innovative Industrial Properties, Inc - Paul Smithers
- Square Footage: 104,000
- Price per Square Foot: $385
Paul Smithers, representing Innovative Industrial Properties, Inc, played a key role in the acquisition of the retail property at 30 Mozzone Blvd. Their expertise and negotiation skills were instrumental in closing the deal. The transaction signifies a significant investment in the Taunton, MA market, further solidifying Innovative Industrial Properties, Inc's position in the retail sector.
Players
Taunton Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93