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83 Griffith St

ESSEX 371 LLC Acquires Industrial Property From BETHEL COMMUNITY CHURCH INTERNATIONAL For $6.5M
SOLDIndustrial

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

Carly Kilroy

Curran Commercial

Broker

$69.8M

vol

7 deals

Broker
EL
ESSEX 371 LLCBuyer
BI
BETHEL COMMUNITY CHURCH INTERNATIONAL INSeller

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