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ShopOne Centers Acquires Retail Property In East Longmeadow MA For $28.3M

Property Image
SOLD
$28,300,000
Jonathan (Jon) Martin
Robert (Rob) Griffin
Paul Penman

Massachusetts

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Retail117,337 SF
Sold 05/19/2023
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Property Image
SOLD

ShopOne Centers Acquires Retail Property In East Longmeadow MA For $28.3M

406 N Main St East Longmeadow, MA 01028, USA

See Similar Deals
Retail117,337 SF
Sold 05/19/2023
Jonathan (Jon) Martin
Robert (Rob) Griffin
Paul Penman
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$241
Total Square Footage:117,337 SF
Transaction Type:Sale

An investment group, ShopOne Centers, has purchased a retail property located at 406 North Main Street in East Longmeadow, MA. The property spans a total of 117,337 square feet and was sold by KPR Centers for a total price of $28,300,000. This translates to a price per square foot of $241.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $28,300,000
  • Address: 406 North Main Street, East Longmeadow, MA
  • Market: East Longmeadow, MA
  • Buyer: ShopOne Centers
  • Seller: KPR Centers
  • Brokers: Robert Griffin, Jonathan Martin & Paul Penman - Newmark
  • Square Footage: 117,337
  • Price per Square Foot: $241

Leading the transaction were brokers Robert Griffin, Jonathan Martin, and Paul Penman of Newmark who represented the buyer and seller.

Players

Robert (Rob) Griffin
Newmark
Robert Griffin
72 deals$7.3B volume(617) 863-8611
BROKER
Paul Penman
Newmark
Paul Penman
14 deals$884.1M volume(617) 863-8638
BROKER
Jonathan (Jon) Martin
Newmark
Jonathan Martin
9 deals$659.2M volume(972) 450-3262
BROKER
KPR Centers
KPR Centers
SELLER

Details

SOLD
IMAGE: Robert Griffin, Jonathan Martin & Paul Penman DATE: 05/19/2023 ADDRESS: 406 North Main Street MARKET: East Longmeadow, MA ASSET TYPE: Retail BUYER: ShopOne Centers SELLER: KPR Centers BROKERS: Robert Griffin, Jonathan Martin & Paul Penman - Newmark SALE PRICE: $28,300,000 SF: 117,337 ~ PPSF: $241

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,509,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$100,543.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$134,156.44
Annual Debt Service$1,609,877.26