Updated May 23, 2025
PRP Real Estate Investment Management Acquires 30.4 Acres Industrial Property In Hickory For $60.6M
2020 Trivium Pkwy
$60,600,000
$228/SF
Building Size
265,000 SF
Asset Type
Industrial
Closing
May 21, 2025
About this deal
AI
PRP Real Estate Investment Management acquired a 265,000 sq. ft. industrial property located at 2020 Trivium Court in Hickory, NC, for $60.6 million, representing a price per square foot of $229. The asset covers an area of 30.4 acres.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $60,600,000
- Address: 2020 Trivium Court
- Market: Hickory, NC
- Square Footage: 265,000
- Price per Square Foot: $229
- Seller: Stonemont Financial Group
- Broker: JLL
The transaction was facilitated by JLL, acting as the broker for the deal involving PRP Real Estate Investment Management and Stonemont Financial Group, highlighting the roles of the entities in this significant acquisition.
On the Map
$60,600,000
$228/SF
Industrial
View full map
Players
Newton Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
Browse Newton industrial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93