Updated Dec 4, 2024
Faropoint Acquires 312.9K SF Industrial Portfolio In Charlotte For $33.3M
4112 Joe Street, 2101 Westinghouse Boulevard & 9701 Brookford Street
$33,300,000
$35/SF
Building Size
312,950 SF
Asset Type
Industrial
Closing
Sep 15, 2023
About this deal
AI
Faropoint has acquired a 312,950-square-foot industrial portfolio consisting of three buildings in Charlotte, NC for a total price of $33.3 million. The properties include a 45,750-square-foot building located at 4112 Joe Street, a 200,000-square-foot asset at 2101 Westinghouse Boulevard, and a 67,200-square-foot building at 9701 Brookford Street. The purchase price per square foot is calculated at $106.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $33,300,000
- SF: 312,950
- PPSF: $106
- Buyer: Faropoint - Adir Levitas
- Seller: Beacon Partners
- Broker: Patrick Gildea - CBRE
This acquisition was facilitated by Patrick Gildea from CBRE, serving as Faropoint's representative. The seller, Beacon Partners, agreed to the transaction with Faropoint at the mentioned price. The deal represents a significant investment opportunity in the flourishing industrial market of Charlotte, NC.
On the Map
$33,300,000
$35/SF
Industrial
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Players
Charlotte 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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93