Updated Aug 24, 2026
Northbridge Partners Acquires Distribution Center In Virginia Beach For $12.7M From Hickory Real Estate Partners
5820 Ward Court
$12,700,000
$148/SF
Building Size
85,295 SF
Asset Type
Distribution Center
Closing
Aug 18, 2026
About this deal
AI
The Ward Court Distribution Center is an industrial facility located at 5820 Ward Court in Virginia Beach, Virginia. This property encompasses a total square footage of 85,295 and was sold for a price of $12,700,000, resulting in a price per square foot of $149.
Summary of transaction details:
- Property Type: Distribution Center
- Transaction Amount: $12,700,000
- Address: 5820 Ward Court
- Market: Virginia Beach, VA
- Square Footage: 85,295
- Price per Square Foot: $149
- Buyer: Northbridge Partners
- Seller: Hickory Real Estate Partners
- Brokers: Bo McKown & Eric Robison - Cushman & Wakefield
Northbridge Partners completed the acquisition from Hickory Real Estate Partners, with the transaction facilitated by brokers Bo McKown and Eric Robison from Cushman & Wakefield. This sale marks a significant deal within the Virginia Beach market, reflecting the active engagement in distribution center assets.
On the Map
$12,700,000
$148/SF
Distribution Center
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Players
Virginia Beach Distribution Center Market Snapshot
Boundary boundary · Distribution Center · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.25%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93