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
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