Vericon Construction Company Acquires 20 Commerce Street Industrial Building From Fortress Group LLC For $1.88M
20 Commerce Street
$1,880,000
$268/SF
Building Size
7,000 SF
Asset Type
Industrial
Closing
Jan 27, 2025
AI
Vericon Construction Company purchased an industrial building located at 20 Commerce Street in Springfield for a total of $1,880,000. The property spans 7,000 square feet and was sold at a price per square foot of $269. The seller of the asset is Fortress Group LLC.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,880,000
- Address: 20 Commerce Street
- Market: Springfield
- Square Footage: 7,000
- Price per Square Foot: $269
- Seller: Fortress Group LLC
- Buyer's Representative: NAI Dileo Bram & Co.
- Broker: Gregory Irving - Bussel Realty
Charlie DeAngelis represents the buyer, Vericon Construction Company, in this transaction. Fortress Group LLC was represented by Gregory Irving from Bussel Realty Corp, facilitating the sale of the industrial asset.
Players
Springfield Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.44%
Cash-on-Cash
-2.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93