20 Seyon Street, Watertown, MA
|Property:||Acquired 100% occupied, 20 Seyon Street is a single-story, multi-tenant warehouse distribution property totaling 94,268 sf on 5.0 acres of land|
|Strategy:||Stable, cash flowing acquisition of high quality warehouse space in a land constraint, high growth urban infill location|
Opportunity / Highlights
- 100% occupied with 92% of the asset leased through 2024 providing 8%-9% annual cash flow to investors.
- Immediate proximity to Interstates 90 (Mass Pike) and 95 provide efficient fulfillment capabilities and strong demographics close to Boston and Cambridge, mitigating future leasing risk.
- Significant capital improvements since 2013 include a new roof with 15 year warranty, new HVAC units, and security and alarm systems throughout the building.
- The Property is situated within a high growth, mixed-use urban corridor and has seen extensive development of retail and multi-family properties which could expand our exit options and increase exit pricing.
- The asset is operating at plan and cash flowing to investors.