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The Pinkard Group Acquires Longwood Industrial Portfolio In Fredericksburg VA For $38M

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SOLD
$38,000,000

Virginia

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Industrial884,000 SF
Sold 04/21/2025
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SOLD

The Pinkard Group Acquires Longwood Industrial Portfolio In Fredericksburg VA For $38M

230 Industrial Drive, 11001 Houser Drive, 10934 Houser Drive & 11200 Houser Drive

See Similar Deals
Industrial884,000 SF
Sold 04/21/2025
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$43
Total Square Footage:884,000 SF
Transaction Type:Sale

The Longwood Industrial Portfolio, consisting of four properties located at 230 Industrial Drive, 11001 Houser Drive, 10934 Houser Drive, and 11200 Houser Drive in Fredericksburg, VA, was sold for $38,000,000. The total square footage of the portfolio is 221,000, translating to a price per square foot of $172.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $38,000,000
  • Total Square Feet: 221,000
  • Price Per Square Foot: $172
  • Buyer: The Pinkard Group
  • Broker: Virgil G. Nelson - Cushman & Wakefield
  • Market: Fredericksburg, VA
  • Seller: GID Solutions

This transaction was facilitated by Virgil G. Nelson, representing The Pinkard Group in this acquisition of the Longwood Industrial Portfolio. The deal reflects the ongoing demand for industrial properties in the Fredericksburg area.

Players

Virgil G. Nelson
Cushman & Wakefield
Virgil G. Nelson
5 deals$52.2M volume
BROKER
TG
The Pinkard Group
BUYER

Details

SOLD
IMAGE: 04/21/2025 ADDRESS: 230 Industrial Drive, 11001 Houser Drive, 10934 Houser Drive & 11200 Houser Drive MARKET: Fredericksburg, VA ASSET TYPE: Industrial BUYER: The Pinkard Group BROKER: Virgil G. Nelson - Cushman & Wakefield SALE PRICE: $38,000,000 SF: 221,000 ~ PPSF: $172 NOTE: The Pinkard Group acquired the 221,000-square-foot Longwood Industrial Portfolio in Fredericksburg, VA for $38M from a seller tied to GID Solutions.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,026,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$135,005.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$180,139.39
Annual Debt Service$2,161,672.64