Hepaco LLC Acquires Industrial Property From Piedmont Land Company In Norfolk For $2.54M

The asset involved in this transaction is an industrial property located at 1301 Marsh Street in Norfolk, VA. The buyer, Hepaco LLC, acquired the site, which spans 1.71 acres, for a total price of $2,541,954. The transaction reflects a cap rate of 6.5%. The property was sold by Piedmont Land Company, who had previously owned it.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $2,541,954
• Buyer: Hepaco LLC
• Seller: Piedmont Land Company
• Brokers: Clark Simpson, Erik Conradi, William Throne, Taylor Anderson & Geoffrey Poston - Cushman & Wakefield

Cushman & Wakefield facilitated the deal representing the seller, Piedmont Land Company. Hepaco LLC operates as Clean Harbors and purchased the property as their leased site. This transaction highlights the activity within the Norfolk industrial market.