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8591 Concord Mills Boulevar...

South Coast Commercial Acquires Retail Property In Concord, NC For $15.2M
SOLDRetail

South Coast Commercial Acquires Retail Property In Concord, NC For $15.2M

8591 Concord Mills Boulevard, Concord, North Carolina 28027, United States

$15,200,000

$333/SF

Building Size

45,569 SF

Asset Type

Retail

Closing

Aug 30, 2022

AI

The retail property located at 8591 Concord Mills Boulevard in Concord, NC has been sold for a total price of $15,200,000. The property spans across 45,569 square feet, resulting in a price per square foot of $334.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $15,200,000

The buyer of the property is South Coast Commercial, LLC, while the seller is PEBB Enterprises, specifically represented by Ian Weiner. The deal was facilitated by Evan Halkias and Margaret Jones from Cushman & Wakefield.

Players

Evan Halkias

Cushman & Wakefield

Broker

$159.9M

vol

10 deals

Broker
PEBB Enterprises
PEBB EnterprisesBrokerage
Ian Weiner

Ian Weiner

PEBB Enterprises

Seller

$392.6M

vol

23 deals

Seller

Concord Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.04%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93