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20 Commerce Street

Vericon Construction Company Acquires 20 Commerce Street Industrial Building From Fortress Group LLC For $1.88M
SOLDIndustrial

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

Gregory Irving

Bussel Realty

Broker

$38.1M

vol

7 deals

Broker

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