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1 Crosswind Road

U.S. Properties Real Estate Services Sells 1 Crosswind Road Office Building For $2.5M In Westerly
SOLDOffice

U.S. Properties Real Estate Services Sells 1 Crosswind Road Office Building For $2.5M In Westerly

1 Crosswind Road

$2,500,000

$71/SF

Building Size

34,815 SF

Asset Type

Office

Closing

Dec 13, 2024

AI

The property involved in this transaction is an office building located at 1 Crosswind Road in the Westerly Industrial Park. The asset was sold for $2,500,000, featuring a total square footage of 34,815, which translates to a price per square foot of $72.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $2,500,000
  • Address: 1 Crosswind Road
  • Market: Westerly, RI
  • Square Footage: 34,815
  • Price per Square Foot: $72
  • Seller: U.S. Properties Real Estate Services
  • Broker Representatives: Derek Brazeau & Peter Hayes - Cushman & Wakefield

Hayes & Sherry facilitated the purchase representing a local buyer, marking U.S. Properties Real Estate Services' second major transaction in the Westerly Industrial Park within the year.

Players

Derek Brazeau

Cushman & Wakefield

Broker

$11.3M

vol

5 deals

Broker

Westerly Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93