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76 George Leven Dr, North A...

SRS Distribution Inc Leases Industrial Space In North Attleborough MA With SVN Reps
LEASEDIndustrial

SRS Distribution Inc Leases Industrial Space In North Attleborough MA With SVN Reps

76 George Leven Dr, North Attleborou...

Building Size

22,000 SF

Asset Type

Industrial

Closing

Nov 22, 2023

AI

The industrial property at 76 George Leven Drive in North Attleborough spans 22,000 square feet and is situated just off Route 152. The location is approximately three miles from the interchange of Interstate 495 and Route 1, offering convenient access to major transportation routes. The lease was secured by SVN | Parsons Commercial Group | Boston on behalf of tenant SRS Distribution Inc., a leading building products distributor in the United States. The tenant's representative, Victor Galvani of SVN, facilitated the lease agreement with the landlord, 76 George Leven LLC.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Tenant: SRS Distribution Inc
  • Tenant's Rep: Victor Galvani(SVN)
  • Landlord: 76 George Leven LLC
  • Square Feet: 22,000
  • Location: North Attleborough, Massachusetts

Notable figures involved in the deal include Jake Parsons of SVN | PCG, who represented the landlord, 76 George Leven LLC. The lease transaction reflects SRS Distribution Inc.'s strategic expansion efforts, aiming to grow its presence nationwide by securing a new location in Massachusetts. The industrial lease underscores the ongoing demand for industrial spaces in the North Attleborough area, highlighting the active commercial real estate market in the region.

Players

Victor Galvani

SVN

Broker

$5.1M

vol

2 deals

Broker

Market Industrial Market Snapshot

Boundary boundary · Industrial · Lease 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