Updated Oct 7, 2026
Tom Gilbane And Aric Shalev Of Rockpoint Acquire Industrial Campus In Concord For $26.8M
540 Pitts School Road Northwest & 560 Pitts School Road Northwest
$26,800,000
$223/SF
Building Size
119,700 SF
Asset Type
Industrial
Closing
Oct 7, 2026
About this deal
AI
The property involved in the transaction is an industrial campus located at 540 and 560 Pitts School Road Northwest in Concord, NC, spanning 11 acres. The asset is a four-building facility with a total square footage of 119,700. It was sold for $26,800,000, translating to a price per square foot of $224. The campus is fully leased and accommodates 15 tenants.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $26,800,000
- Address: 540 & 560 Pitts School Road Northwest
- Market: Concord, NC
- Acres: 11
- Square Footage: 119,700
- Price per Square Foot: $224
- Buyer: Tom Gilbane & Aric Shalev - Rockpoint
- Seller: Mike Pearson - Fortius Capital Partners
Tom Gilbane and Aric Shalev, representing Rockpoint, successfully acquired the property from Mike Pearson of Fortius Capital Partners. The transaction highlights the active industrial market in Concord, with the property being completed between 2022 and 2024.
On the Map
$26,800,000
$223/SF
Industrial
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Players
Rudd 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93