Updated Jul 22, 2026
LEASEDIndustrial
American Eagle Outfitters Leases 472,890 Square Feet At Crow Holdings In Salisbury For $41 Million
1415 Peeler Road
Building Size
472,890 SF
Asset Type
Industrial
Closing
Jul 20, 2026
About this deal
AI
The property involved in the transaction is an industrial asset located at 1415 Peeler Road in Salisbury, NC, with a total square footage of 472,890. It is part of Crow Holdings' Innovation Logistics Center.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $41 million
- Landlord: Michael Levy - Crow Holdings
- Tenant: Jay L. Schottenstein - American Eagle Outfitters
- Brokers: Fermin Montes de Oca, Matt Treble, Patrick Decker, Ben Brenner, Mark Zaziski & Patrick McGrath - Cushman & Wakefield
This transaction marks a strategic move for American Eagle Outfitters, which will be establishing a Southeast distribution hub within the leased space. The operations are set to begin in early 2027, and it is anticipated that this hub will create more than 200 jobs in the area.
On the Map
Industrial
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Salisbury Industrial Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93