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31 Stiles Road Salem, New H...

Updated Oct 29, 2024

Colliers International Leases 6,870 SF Office Space In Salem To Optima Dermatology & Medical Aesthetics
LEASEDOffice

Colliers International Leases 6,870 SF Office Space In Salem To Optima Dermatology & Medical Aesthetics

31 Stiles Road Salem, New Hampshire 03079, USA

Building Size

6,870 SF

Asset Type

Office

Closing

Jul 14, 2023

About this deal

AI

Colliers International has successfully leased 6,870 square feet of office space at 31 Stiles Road in Salem, NH. The property, located in the Salem market, is now occupied by Optima Dermatology & Medical Aesthetics.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 31 Stiles Road
  • Market: Salem, NH
  • Square Footage: 6,870

This lease deal was negotiated by the brokers representing both parties involved. Hugo Overdeput and Andrew Robbins from Colliers International's Manchester office acted as the landlord's representatives. On the other hand, Sean McQuaid represented Optima Dermatology & Medical Aesthetics as their tenant's representative from Eastern Retail Properties, Inc.

Note: The successful deal was facilitated by Hugo Overdeput and Andrew Robbins from Colliers International, representing the landlord, and Sean McQuaid from Eastern Retail Properties, Inc, representing the tenant.

Players

Salem Office Market Snapshot

Boundary boundary · Office · 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

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