Updated Mar 13, 2026
Atlanta Property Group And TPG Angelo Gordon Acquire North 70 Distribution Center For $26.7M
224 North Hoover Road
$26,700,000
$101/SF
Building Size
261,926 SF
Asset Type
Industrial
Closing
Mar 12, 2026
About this deal
AI
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.
On the Map
$26,700,000
$101/SF
Industrial
View full map
Players
Durham Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
Browse Durham industrial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93