STAG Industrial, Inc. recently sold a building located in Nashua, NH for $67 million. The undisclosed buyer purchased the property at a cash cap rate of 4.9%, marking the end of an 11-year ownership period.
The building, which spans over 337,000 square feet and is situated in Westwood Park at 80 Northwest Blvd., was originally acquired by STAG Industrial in 2014 for approximately $11.7 million with a cash cap rate of 8.2%. The sale resulted in an impressive unlevered internal rate of return of 20.8% during the hold period.
According to Bill Crooker, CEO of STAG Industrial, this transaction showcases their operations team’s expertise and ability to deliver positive results through significant cap rate compression achieved from the sale.” He also stated that this successful deal allows them to strategically recycle capital as they enter into new opportunities for growth heading into2025.
