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Single-Tenant Office Medical

Commonwealth of Massachusetts

328-330 Cambridge St, Burlington, MA 01803

Listing Price: $16,818,000

Cap Rate
5.50%
Tenant Name
Commonwealth of Massachusetts
Years Remaining On Lease
8.4
Guarantor
State Agency
Rentable SF
21,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.05

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Commonwealth of Massachusetts Department of Children And Families (DCF) located at 328-330 Cambridge Street in Burlington, Massachusetts. The site consists of roughly, 21,000 rentable square feet of building space, of which 18,553 is usable) on an estimated 3.53-acre parcel of land. DCF is subject to a 10-year net reimbursable lease where the tenant reimburses the landlord as additional rent for nearly all expenses (see pages 6-7 for lease abstract. The lease commenced on September 14, 2020 and expires in September 2030. The current annual rent is $925,000 and is scheduled to increase by two percent (2%) in year 6. In the lease it was determined that the operating expense reimbursement shall equal $163,500, however if the expenses are higher the reimbursement will increase each year. The tenant is responsible for taxes, utilities, insurance, parking/landscaping, and general maintenance of the property while the landlord is responsible for roof/structure, however the property was recently constructed and there is a 20-year assignable roof warranty.

Investment Highlights

  • The Property is a New Construction Built to Suit Medical Office That is 100% Leased to the Commonwealth of Massachusetts
  • There are Approximately 8.5 Years Remaining on the Lease
  • This is a Mission Critical Location for the Department of Children and Families (DCF) with Easy Access to Public Transportation

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Regional Manager

    (617) 896-7220

    License(s) MA: 1000485

    Massachusetts

Financing By

Single-Tenant Office Medical

Commonwealth of Massachusetts

Listing Price: $16,818,000

Cap Rate
5.50%
Tenant Name
Commonwealth of Massachusetts
Years Remaining On Lease
8.4
Guarantor
State Agency
Rentable SF
21,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$44.05

Investment Highlights

  • The Property is a New Construction Built to Suit Medical Office That is 100% Leased to the Commonwealth of Massachusetts
  • There are Approximately 8.5 Years Remaining on the Lease
  • This is a Mission Critical Location for the Department of Children and Families (DCF) with Easy Access to Public Transportation

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Commonwealth of Massachusetts Department of Children And Families (DCF) located at 328-330 Cambridge Street in Burlington, Massachusetts. The site consists of roughly, 21,000 rentable square feet of building space, of which 18,553 is usable) on an estimated 3.53-acre parcel of land. DCF is subject to a 10-year net reimbursable lease where the tenant reimburses the landlord as additional rent for nearly all expenses (see pages 6-7 for lease abstract. The lease commenced on September 14, 2020 and expires in September 2030. The current annual rent is $925,000 and is scheduled to increase by two percent (2%) in year 6. In the lease it was determined that the operating expense reimbursement shall equal $163,500, however if the expenses are higher the reimbursement will increase each year. The tenant is responsible for taxes, utilities, insurance, parking/landscaping, and general maintenance of the property while the landlord is responsible for roof/structure, however the property was recently constructed and there is a 20-year assignable roof warranty.

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Regional Manager

    (617) 896-7220

    License(s): MA: 1000485

    Massachusetts

Financing By

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