115 ne cutoff
TRANSCRIPT
115 NE CutoffWORCESTER, MA
NEARBY AMENITIES
1968 & 1985 YEAR BUILT
3.1 / 1,000 PARKING
56 ACRES
On Site Amenities EXISTING CAFE INFRASTRUCTURE, CONFERENCE
CENTER WITH WIFI, AND FITNESS CENTER
184,800 SF RENTABLE BUILDING AREA
Executive Summary
As exclusive agent, Cushman & Wakefield (C&W) is pleased to offer for sale 115 Northeast Cutoff in Worcester, MA. The building offers users a highly accessible location, supporting access to a diverse labor pool, and a densely populated business, institutional and healthcare community. The building consists of 184,000 SF on 2 floors and serves an office and R&D function. The entire site totals 56 acres and can support additional development.
Proximity to I-495, I-90 and I-290 provides exceptional access to all of the regions key highways. Further, the supply constrained greater Worcester Industrial market consists of 98 buildings and an inventory totaling 11.1 Million square feet. The sub-market boasts a very healthy overall vacancy rate of 5.2% and a direct weighted average net rent of $6.04/SF (flex, high tech flex, manufacturing, offices service flex and warehouse / distribution space).
The asset is being offered free and clear of existing debt. Cushman & Wakefield will assist investors and users during the marketing and transaction process.
Owner Allegro MicroSystems, LLC.
Land Size +/- 56 Acres
Total Building Size 184,800 SF
Main R&D Building 139,700 SF
Office Building 45,100 SF
Parking 578 Spacing (3.1/1,000 SF)
Building Power Two separate main feed lines of 13,800 Volts each coming to the building Outdoor Switchgear.
Substation Size The Outdoor Switchgear is rated @ 15KV with 2 Main 1200A breakers ea. @ 13,800 Volts.
Incoming water capability < 50 Million Gallons. of water per year.
Back-up Generators
3 Backup Generators (1) 250 KW, (1) 100 KW for Life Safety and (1) 200 KW dedicated for the IT Server Room. The IT Server Room also has an 80 KVA UPS system to cover the gap until the generator turns on. The Indoor Switchgears are either 1000 or 2500 KVA and transform the power down to 208 or 480 Volts, and are Ungrounded systems, which can help keep Critical Systems running in the event of a ground fault.
HVAC & Chilled Water Loop 5 chillers of various sizes on site.
Building management systems BCM (Continuum) & I-V-U (Carrier) systems.
AC Tonnage Main building: 2790 | Office: 127
Clear HeightsMain Building: 1st Floor - 14’9”, 2nd Floor - 12’9” Office: 1st Floor - 13’6”, 2nd Floor - 13’2”
2nd Floor Loads 125 lbs. PSF Live Load
Building Specs
Floor Plans
MAIN PLANT
1ST FLOOR
2ND FLOOR
OFFICE BUILDING
1ST FLOOR
2ND FLOOR
Market Stats
TOTAL INDUSTRIAL MARKET
# of Buildings
Total Inventory
Overall Vacant
Overall Vacancy Rate
YTD Overall Net Absorption
Under Construction
Direct Weighted Net Average
Boston 54 3,462,119 455,922 13.2% 22,079 0 $13.42
Boston North 56 4,378,332 249,705 5.7% (168,890) 0 $13.24
Boston South 86 5,797,739 633,834 10.9% (140,171) 0 $9.80
Boston West 86 4,598,981 28,500 0.6% 9,430 0 $22.50
Inner Suburbs 282 18,237,171 1,367,961 7.5% (277,552) 0 $11.99
128 North 147 11,155,793 745,168 6.7% (29,219) 0 $11.41
495 North 240 20,493,677 1,433,288 7.0% 75,438 283,000 $9.72
North Total 387 31,649,470 2,178,456 6.9% 46,219 283,000 $9.93
128 West 35 1,962,464 21,290 1.1% 14,479 0 $10.87
495 West 202 19,540,715 1,325,590 6.8% (81,779) 427,500 $7.28
MetroWest 27 2,276,301 134,590 5.9% 100,925 0 $9.00
Worcester 98 11,185,758 577,743 5.2% 315,236 1,100,000 $6.04
West Total 362 34,965,238 2,059,213 5.9% 348,861 1,527,500 $6.97
128 South 187 13,899,738 1,103,047 7.9% (283,711) 145,000 $6.06
495 South 304 30,903,009 1,641,982 5.3% 496,471 500,000 $5.67
Route 3 South 60 3,084,292 96,450 3.1% (62,274) 0 $5.70
Fall River/New Bedford 55 8,868,942 373,466 4.2% (68,000) 250,000 $10.84
South Total 551 56,755,981 3,214,945 5.7% 82,486 895,000 $6.11
Boston Total 1,582 141,607,860 8,820,575 6.2% 200,014 2,705,500 $7.89
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115 NE Cutoff
LOCATED JUST OFF ROUTE I-290 AT EXIT 22
• Primary parcel is 40.14 acres improved by two main buildings of 184,800 SF
• Separate land parcel is referred to as 369-377 Holden Street and is 14.64 acres
• Properties will be sold vacant/as is
• Sites can be purchased separately
Additional information
290
190
Paul LeoneExecutive Director+1 617 204 [email protected]
Brian CollinsSenior Associate+1 617 204 [email protected]
Brian HinesVice Chairman+1 617 279 [email protected]
Kevin HannaExecutive Director+1 617 279 [email protected]