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Atlanta Property Group And TPG Angelo Gordon Acquire North 70 Distribution Center For $26.7M
SOLD
$26,700,000
North Carolina
See Similar DealsIndustrial261,926 SF
Sold 03/12/2026
SOLD
Atlanta Property Group And TPG Angelo Gordon Acquire North 70 Distribution Center For $26.7M
224 North Hoover Road
See Similar DealsIndustrial261,926 SF
Sold 03/12/2026
Summary
NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$101
Total Square Footage:261,926 SF
Transaction Type:Sale
The industrial asset located at 224 North Hoover Road in Durham, North Carolina, encompasses 15.7 acres with a total square footage of 261,926. The property was sold for $26,700,000, equating to a price per square foot of $102.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $26,700,000
- Address: 224 North Hoover Road
- Market: Durham, NC
- Acres: 15.7
- Square Footage: 261,926
- Price Per Square Foot: $102
- Buyer: Atlanta Property Group & TPG Angelo Gordon
- Seller: Northbridge Partners
A venture between Atlanta Property Group and TPG Angelo Gordon spearheaded the acquisition from Northbridge Partners, marking a significant transaction in the industrial market sector in Durham, North Carolina.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,423,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$94,859.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$126,571.62
Annual Debt Service$1,518,859.46
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