Updated Dec 4, 2024
Nicole Maine, Patrick Farrell, Benjamin Wood & Jonathan Kaufman Facilitate $8.8M Industrial Sale
1 Kenney Drive
$8,800,000
$60/SF
Building Size
145,000 SF
Asset Type
Industrial
Closing
Apr 19, 2024
About this deal
AI
The industrial property located at 1 Kenney Drive in Cranston, RI, spanning 17 acres, was recently sold for $8,800,000 at a price per square foot of $61. This transaction was successfully completed by Nicole Maine, Patrick Farrell, Benjamin Wood, and Jonathan Kaufman of The Local Group.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $8,800,000
- SF: 145,000
- PPSF: $61
- Address: 1 Kenney Drive
- Market: Cranston, RI
Lila Delman Compass was involved in finalizing the sale of 1 Kenney Drive for $8.8 million, which stands as one of the highest office space transactions in the area since March 2023. The transaction was facilitated by the brokerage team consisting of Benjamin Wood, Jonathan Kaufman, Patrick Farrell, and Nicole Maine from Compass.
Players
Cranston 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
1.80%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93