Updated Dec 4, 2024
MLB Residential Mortgage Leases Office Space At 841 Mountain Avenue In Springfield
841 Mountain Avenue
Building Size
5,000 SF
Asset Type
Office
Closing
Dec 6, 2023
About this deal
AI
MLB Residential Mortgage has leased 5,000 square feet of office space at 841 Mountain Ave. in Springfield. The lease was secured by Samuel P. Lamparello from the Boniakowski Commercial Real Estate Group. This new office space will enable MLB Residential Mortgage to enhance client service and improve staff efficiency.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not provided
- Square Footage: 5,000
- Address: 841 Mountain Avenue, Springfield
- Market: Springfield
Todd Gannet, also from the Boniakowski Commercial Real Estate Group, represented the tenant, Samuel P. Lamparello, in this lease deal. The new office space at 841 Mountain Ave. will support MLB Residential Mortgage's goal of providing improved client service and increased staff efficiency.
In addition to the lease at 841 Mountain Ave., Todd Gannet secured a 1,000-square-foot office expansion for Backspin Records in Middlesex Borough. The expansion aims to accommodate the company's growing collection of classic vinyl records and provide convenience for their clients.
Note: The Boniakowski Commercial Real Estate Group facilitated both transactions, emphasizing client service and supporting the companies' growth.
Players
Springfield Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Browse Springfield office leases on Traded.
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