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Somerset Properties Acquires South Elm Industrial Center In Greensboro From Blue Ridge Industrial For $46.75M
SOLD
$46,750,000
North Carolina
See Similar DealsIndustrial336,000 SF
Sold 02/10/2026
SOLD
Somerset Properties Acquires South Elm Industrial Center In Greensboro From Blue Ridge Industrial For $46.75M
205 Creek Ridge Road
See Similar DealsIndustrial336,000 SF
Sold 02/10/2026
Summary
NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$139
Total Square Footage:336,000 SF
Transaction Type:Sale
The industrial property involved in this transaction is located at 205 Creek Ridge Road in Greensboro, NC. This asset features a total square footage of 336,000 and was sold for a transaction amount of $46,750,000. The price per square foot stands at $139.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $46,750,000
- Buyer: Somerset Properties
- Seller: Blue Ridge Industrial
- Broker: Neal Colligan - Largo Capital
- Square Footage: 336,000
- Price per Square Foot: $139
Neal Colligan of Largo Capital was instrumental in this deal, arranging a $33.9 million floating-rate mortgage to facilitate the acquisition and lease-up of the property by Somerset Properties from Blue Ridge Industrial.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,493,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$166,092.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$221,618.85
Annual Debt Service$2,659,426.21
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