RPT Realty Acquires Retail Property In Northborough For $104M
SOLD
$104,000,000
Massachusetts
See Similar DealsRetail646,000 SF
Sold 05/06/2021
SOLD
RPT Realty Acquires Retail Property In Northborough For $104M
9102 Shops Way, Northborough, Massachusetts, USA
See Similar DealsRetail646,000 SF
Sold 05/06/2021
Summary
MASSACHUSETTS
Asset Type:Retail
Price Per Square Foot:$161
Total Square Footage:646,000 SF
Transaction Type:Sale
The retail property located at 9102 Shops Way in Northborough, MA was recently sold in a transaction. The property spans a total area of 646,000 square feet and is classified as a retail asset. The deal was completed on 05/06/2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $104,000,000
- Address: 9102 Shops Way, Northborough, MA
- Market: Northborough, MA
The seller, Lisa Palmer and Mike Mas, represented Regency Centers in the transaction. On the other side, Brian Harper acted as the buyer's representative on behalf of RPT Realty. The price per square foot for the property was calculated at $161.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$369,490.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$493,013.06
Annual Debt Service$5,916,156.70
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