ESSEX 371 LLC Acquires Industrial Property From BETHEL COMMUNITY CHURCH INTERNATIONAL For $6.5M
83 Griffith St
$6,500,000
$37/SF
Building Size
172,817 SF
Asset Type
Industrial
Closing
Jan 8, 2021
AI
The property asset involved in the transaction is an industrial facility located at 83 Griffith St in Salem. It spans a total area of 172,817 square feet and was sold for $6,500,000.00.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,500,000.00
- Address: 83 Griffith St
- Market: Salem
- Asset Size: 172,817 SF
- Buyer: ESSEX 371 LLC
- Seller: BETHEL COMMUNITY CHURCH INTERNATIONAL IN
- Brokers: Carly Kilroy - Curran Commercial
The key individuals in this deal include Carly Kilroy, representing the brokerage firm Curran Commercial, who facilitated the transaction between the buyer, ESSEX 371 LLC, and the seller, BETHEL COMMUNITY CHURCH INTERNATIONAL IN.
Players
Salem 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93