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289 Swanton Road

Marcus & Millichap Sells Highgate Commons Retail Center For $12.9M In Saint Albans
SOLDRetail

Marcus & Millichap Sells Highgate Commons Retail Center For $12.9M In Saint Albans

289 Swanton Road

$12,975,000

$57/SF

Building Size

224,000 SF

Asset Type

Retail

Closing

Jun 3, 2024

AI

Highgate Commons is a 224,000-square-foot retail property located at 289 Swanton Road in Saint Albans, VT. The property was recently sold for $12,975,000, equating to a price per square foot of $58.

Summary of transaction details:

The sale of Highgate Commons was facilitated by Marcus & Millichap's Boston team. The grocery-anchored shopping center changed hands in a deal that showcased the expertise of the brokers involved, including Adamo Mariani, Alex Quinn, James Koury, Jeffrey Nick, and Jesse Di Gennaro.

Players

James Koury

Institutional Property Advisors

Broker

$435.3M

vol

21 deals

Broker

Saint Albans Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.22%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93