Updated Sep 2, 2026
Brad Minsley & Ian Levin Of 10 Federal Acquire 2401 Eric Lane Retail Center In Burlington NC
2401 Eric Lane
Building Size
219,850 SF
Asset Type
Retail
Closing
Sep 2, 2026
About this deal
AI
The property involved in this transaction is the Eric Lane Shopping Center, located at 2401 Eric Lane in Burlington, NC. This retail asset spans 219,850 square feet and is situated on nearly 25 acres of land near the I-40/I-85 interchange.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 2401 Eric Lane
- Market: Burlington, NC
- Square Footage: 219,850 SF
- Acres: 25
- Buyer: Brad Minsley & Ian Levin
- Company: 10 Federal
Brad Minsley and Ian Levin, representing 10 Federal, were the buyers in this acquisition, marking the company's first entry into retail real estate. This purchase aligns with 10 Federal's broader strategy to diversify its portfolio beyond self-storage facilities.
On the Map
Retail
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Players
Burlington 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93