Updated Jul 9, 2025
Grant Investment Management Sells 9.2 Acre Industrial Property In Newport News For $5.85M
220 Pickett's Line
$5,850,000
$119/SF
Building Size
48,800 SF
Asset Type
Industrial
Closing
Jun 24, 2025
About this deal
AI
An industrial property located at 220 Picketts Line in Newport News, VA has been sold for $5,850,000. This asset spans 9.2 acres with a total square footage of 48,800. The price per square foot for this transaction is calculated at $120.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,850,000
- Address: 220 Picketts Line
- Market: Newport News, VA
- Seller: Grant Investment Management, LLC
- Broker: Clay Culbreth - Cushman & Wakefield
This transaction saw a local investor acquire the property, facilitated by Clay Culbreth representing the seller, Grant Investment Management, LLC. The deal highlights the active participation of Cushman & Wakefield | Thalhimer in managing the sale process for the seller.
Players
Newport News 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
2.71%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93