Updated Mar 5, 2025
SL Industrial Partners Acquires Industrial Property From Tectonic In Greensboro For $29.5M
3618 Mcconnell Road
$29,500,000
$100/SF
Building Size
293,740 SF
Asset Type
Industrial
Closing
Feb 27, 2025
About this deal
AI
On February 27, 2025, a 293,740-square-foot industrial property located at 3618 Mcconnell Road in Greensboro, NC, was sold for $29.5 million. This transaction adds to SL Industrial Partners' increasing portfolio in North Carolina, which now exceeds 6 million square feet. The asset, developed by Tectonic and completed in 2023, boasts modern logistics features and provides easy access to major interstates.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $29,500,000
- Sale Date: 02/27/2025
- Buyer: SL Industrial Partners
- Seller: Tectonic
- Brokerage Firm: Cushman & Wakefield
- Brokers: Tom Townes & Ryan Conboy
- Square Footage: 293,740
- Price Per Square Foot: $100
Cushman & Wakefield is currently managing the leasing for the facility, which features modern logistics capabilities developed by Tectonic. This acquisition further strengthens SL Industrial Partners’ presence in the industrial market of North Carolina.
On the Map
$29,500,000
$100/SF
Industrial
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Players
Greensboro Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93