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Bluerock Acquires 17 Acres Industrial Property In Benson From MT96 Crosspoint LLC & AHG Crosspoint LLC For $28M

Property Image
SOLD
$28,000,000
Hank Miller
Paul Loukas

North Carolina

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Industrial327,000 SF
Sold 04/25/2025
the dealplayerscompscontact
Property Image
SOLD

Bluerock Acquires 17 Acres Industrial Property In Benson From MT96 Crosspoint LLC & AHG Crosspoint LLC For $28M

2028 Woodall Dairy Road

See Similar Deals
Industrial327,000 SF
Sold 04/25/2025
Hank Miller
Paul Loukas
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$85
Total Square Footage:327,000 SF
Transaction Type:Sale

The property located at 2028 Woodall Dairy Road in Benson, NC, features an industrial asset comprising 17 acres with a total square footage of 327,000. The transaction was executed at a sale price of $28,000,000, translating to a price per square foot of $86.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $28,000,000
  • Address: 2028 Woodall Dairy Road
  • Market: Benson, NC
  • Acres: 17
  • Square Footage: 327,000
  • Price per Square Foot: $86
  • Buyer: Bluerock
  • Seller: MT96 Crosspoint LLC & AHG Crosspoint LLC
  • Brokers: Paul Loukas & Hank Miller - Cape Fear Commercial

This transaction involved Bluerock acquiring the industrial property, which has been occupied by a John Deere tenant since 2000. The brokers representing the deal, Hank Miller and Paul Loukas, highlighted the continued interest in industrial assets attributed to persistent demand and low capitalization rates.

Players

Hank Miller
Cape Fear Commercial
Hank Miller
1 deal$28M volume(910) 939-0650
BROKER
Paul Loukas
Cape Fear Commercial
Paul Loukas
1 deal$28M volume(910) 344-1008
BROKER
B
Bluerock
BUYER

Details

SOLD
IMAGE: 04/25/2025 ADDRESS: 2028 Woodall Dairy Road MARKET: Benson, NC ASSET TYPE: Industrial ~ ACRES: 17 BUYER: Bluerock SELLER: MT96 Crosspoint LLC & AHG Crosspoint LLC BROKERS: Paul Loukas & Hank Miller - Cape Fear Commercial SALE PRICE: $28,000,000 SF: 327,000 ~ PPSF: $86 NOTE: Cape Fear Commercial brokers $28M sale of Benson industrial property, with John Deere tenant since 2000, to New York’s Bluerock. Brokers Hank Miller and Paul Loukas said industrial assets remain highly sought after due to strong demand and low cap rates.

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

$1,493,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$99,478.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$132,734.28
Annual Debt Service$1,592,811.42