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TA Realty Acquires Industrial Property On Cordage St In Charlotte, NC For $37M

Property Image
SOLD
$37,000,000
Bryan Crutcher
Anne Johnson
+ 5

North Carolina

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Industrial212,000 SF
Sold 06/29/2022
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Property Image
SOLD

TA Realty Acquires Industrial Property On Cordage St In Charlotte, NC For $37M

11540 Cordage Street, Charlotte, North Carolina 28273, United States

See Similar Deals
Industrial212,000 SF
Sold 06/29/2022
Bryan Crutcher
Anne Johnson
+ 5
Contact now

Summary

NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$174
Total Square Footage:212,000 SF
Transaction Type:Sale

The industrial property located at 11540 Cordage St in Charlotte, NC has been sold in a recent transaction. The property spans a total area of 212,000 square feet and was acquired by TA Realty from the seller, Childress Klein. The sale price for this transaction amounted to $37,000,000, resulting in a price per square foot of $175.

Summary of transaction details

The sale of this industrial property was facilitated by the brokerage team comprising Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, Grayson Hawkins, Robert Hardaway, Frank Fallon, and Trey Barry from CBRE.

Players

Patrick Gildea
17 deals$479.1M volume
BROKER

Matt Smith
CBRE
16 deals$445.8M volume
BROKER

Grayson Hawkins
CBRE
10 deals$239.4M volume
BROKER

Trey Barry
CBRE
18 deals$1.5B volume
BROKER

Frank Fallon
CBRE
20 deals$1.6B volume
BROKER

Robert Hardaway
CBRE
8 deals$137.6M volume
BROKER

Bryan Crutcher
CBRE
3 deals$49.4M volume
BROKER

Anne Johnson
CBRE
3 deals$49.4M volume
BROKER

TA Realty
BUYER

Details

SOLD
IMAGE: Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, Grayson Hawkins, Frank Fallon & Trey Barry DATE: 06/29/2022 ADDRESS: 11540 Cordage St MARKET: Charlotte, NC ASSET TYPE: Industrial BUYER: TA Realty SELLER: Childress Klein BROKERS: Patrick Gildea, Matt Smith, Anne Johnson, Bryan Crutcher, Grayson Hawkins, Robert Hardaway, Frank Fallon & Trey Barry - CBRE SALE PRICE: $37,000,000 SF: 212,000 ~ PPSF: $175

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,973,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$131,453.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$175,398.88
Annual Debt Service$2,104,786.52