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:
- Property Type: Retail
- Transaction Amount: $12,975,000
- Address: 289 Swanton Road
- Market: Saint Albans, VT
- Seller: Commons Associates
- Brokers: Adamo Mariani, Alex Quinn, James Koury, Jeffrey Nick & Jesse Di Gennaro - Marcus & Millichap
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
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