Updated Oct 23, 2026
Raj Subramaniam Of FedEx Acquires Industrial Property In New Hill For $58.8M
338 Pea Ridge Road
$58,800,000
$174/SF
Building Size
338,000 SF
Asset Type
Industrial
Closing
Oct 21, 2026
About this deal
AI
The property asset involved in the transaction is located at 338 Pea Ridge Road in New Hill, NC. This industrial asset spans over 50 acres and includes a distribution center with a total square footage of 338,000. The site was sold for a total of $58.8 million, resulting in a price per square foot of $174.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $58,800,000
- Address: 338 Pea Ridge Road
- Market: New Hill, NC
- Asset Acres: 50
- Square Footage: 338,000
- Price Per Square Foot: $174
- Buyer: Raj Subramaniam - FedEx
- Seller: FX New Hill NC Landlord LLC
Raj Subramaniam represented FedEx in this transaction, acquiring the property that FedEx had leased since the facility's opening in 2023. The site is part of Triangle Innovation Point West, where further development is underway for a sizeable data center.
On the Map
$58,800,000
$174/SF
Industrial
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Players
Pea Ridge 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93