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380 John Fitch Hwy, Fitchbu...

Cole Van Gelder And Chris Peterson Of Atlantic Retail Broker Sale Of Fitchburg Property At 380 John Fitch Hwy
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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

Chris Peterson

Atlantic Retail

Broker

$501M

vol

31 deals

Broker

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