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Redstone Acquires Industrial Property From Merchandise Central LLC In Dover For $5M

Property Image
SOLD
$5,000,000
David Choate
Abigail Bachman

New Hampshire

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Industrial44,232 SF
Sold 05/31/2024
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Property Image
SOLD

Redstone Acquires Industrial Property From Merchandise Central LLC In Dover For $5M

111 Venture Drive

See Similar Deals
Industrial44,232 SF
Sold 05/31/2024
David Choate
Abigail Bachman
the dealplayerscompscontact
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Summary

NEW HAMPSHIRE
Asset Type:Industrial
Price Per Square Foot:$113
Total Square Footage:44,232 SF
Transaction Type:Sale

The sale-leaseback transaction involved a 44,232-square-foot industrial warehouse located at 111 Venture Drive in Dover, NH. The property was sold by Merchandise Central LLC to Redstone for $5,000,000, equating to a price per square foot of $113.

Summary of transaction details:

Colliers International played a pivotal role as the brokerage firm representing both parties in this transaction. Abigail Bachman and David Choate from Colliers facilitated the sale-leaseback deal, ensuring a successful transaction at the industrial property in Dover, NH.

Players

David Choate
Colliers
David Choate
5 deals$23.1M volume
BROKER
Abigail Bachman
Colliers
Abigail Bachman
3 deals$16.9M volume(724) 553-8720
BROKER

Details

SOLD
IMAGE: 05/31/2024 ADDRESS: 111 Venture Drive MARKET: Dover, NH ASSET TYPE: Industrial BUYER: Redstone SELLER: Merchandise Central LLC BROKERS: Abigail Bachman & David Choate - Colliers International SALE PRICE: $5,000,000 SF: 44,232 ~ PPSF: $113 NOTE: Colliers facilitated a $5 million sale-leaseback deal for a 44,232-square-foot warehouse at 111 Venture Drive in Dover, Massachusetts, approximately 70 miles north of Boston.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,763.94
Cash-on-Cash Return-1.27%
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