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Parsons Commercial Group Inc Acquires Industrial Portfolio From Edgewater Ventures In Laurel Hill For $17.5M
SOLD
$17,500,000
+ 1
North Carolina
See Similar DealsIndustrial
Sold 04/11/2025
SOLD
Parsons Commercial Group Inc Acquires Industrial Portfolio From Edgewater Ventures In Laurel Hill For $17.5M
18300 Fieldcrest Road & 18400 Fieldcrest Road
See Similar DealsIndustrial
Sold 04/11/2025
+ 1
Summary
NORTH CAROLINA
Asset Type:Industrial
Transaction Type:Sale
The transaction involves a two-property industrial portfolio located at 18300 Fieldcrest Road and 18400 Fieldcrest Road in Laurel Hill, NC. The properties, totaling 559,397 square feet, were sold for $17,500,000 and are fully leased to apparel manufacturer High Life LLC.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,500,000
- Buyer: Parsons Commercial Group Inc
- Seller: Edgewater Ventures & Singerman Real Estate
- Brokers: Bill Harrison, Fermin Deoca, Matt Treble & Rob Cochran - Cushman & Wakefield
Cushman & Wakefield facilitated the transaction, representing the sellers, Edgewater Ventures and Singerman Real Estate, in this closed deal involving the industrial portfolio.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$62,173.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$82,958.93
Annual Debt Service$995,507.14
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