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9 Northeastern Boulevard

Electronic & Instrumentation Technology Leases 114,000 SF Industrial Space In Salem, NH
LEASEDIndustrial

Electronic & Instrumentation Technology Leases 114,000 SF Industrial Space In Salem, NH

9 Northeastern Boulevard

Building Size

114,000 SF

Asset Type

Industrial

Closing

May 3, 2024

AI

The leased property at 9 Northeastern Boulevard in Salem, NH, consists of an industrial asset spanning 114,000 square feet. The landlord, Mike Hoban of Equity Industrial Partners, facilitated the lease to Electronic & Instrumentation Technology.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 9 Northeastern Boulevard
  • Market: Salem, NH
  • Asset Type: Industrial
  • Square Footage: 114,000

Brian Tisbert, Christopher Lawrence, and Matt Perry of JLL acted as the brokers in this deal, representing Electronic & Instrumentation Technology (EIT) in leasing the space. EIT, a division of Zollner AG Group, Europe’s EMS leader, leased the 114,000 square feet at 9 Northeastern Blvd from Equity Industrial Partners, who own the 650,000 square feet class A industrial and office facility where the transaction took place.

Players

Brian Tisbert

JLL

Broker

$37.4M

vol

8 deals

Broker

Salem 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