Cole Van Gelder And Chris Peterson Of Atlantic Retail Broker Sale Of Fitchburg Property At 380 John Fitch Hwy
380 John Fitch Hwy, Fitchburg, MA, 01...
Building Size
186,809 SF
Asset Type
Retail
Closing
Nov 19, 2023
AI
John Fitch Plaza, a retail center located at 380 John Fitch Hwy, Fitchburg, MA, comprises 186,809 square feet. The property is situated in the Fitchburg market and was 79 percent leased at the time of sale. It is anchored by Cinema World and The Paper Store.
Summary of transaction details:
- Property Type: Retail Center
- Transaction Amount: Undisclosed
- Address: 380 John Fitch Hwy, Fitchburg, MA
- Market: Fitchburg
- Buyer's Representative: Cole Van Gelder - Atlantic Retail
- Seller's Representative: Chris Peterson - Atlantic Retail
- Broker: Justin Smith - Remax
- Buyer: Undisclosed
- Seller: Undisclosed
- Square Footage: 186,809
The transaction involved Atlantic Capital Partners, a division of Atlantic Retail based in Boston, facilitating the sale. Justin Smith, Chris Peterson, Sam Koonce, and Cole Van Gelder played key roles in representing the buyer and seller, both of whom opted for anonymity in this transaction.
Players
Fitchburg 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93