Updated Dec 4, 2024
Kingbourne LLC Acquires 21,349 SF Industrial Property In Virginia Beach For $4M
2645 International Pkwy
$4,000,000
$187/SF
Building Size
21,349 SF
Asset Type
Industrial
Closing
Jan 8, 2024
About this deal
AI
A 21,349 square-foot industrial/flex building located at 2645 International Parkway in Virginia Beach, Virginia has been sold for $4,000,000. The property, situated on three acres, was acquired by Kingbourne LLC from JLB Property Associates, LLC as an investment. The sale was facilitated by Janet Whitbeck of Cushman & Wakefield | Thalhimer, representing both the buyer and seller in the negotiations.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $4,000,000
- Square Footage: 21,349
- Price per Square Foot: $187
- Address: 2645 International Parkway, Virginia Beach, VA
- Market: Virginia Beach, VA
Janet Whitbeck, a representative from Cushman & Wakefield, played a key role in facilitating the sale of the property. The transaction involved Kingbourne LLC as the buyer and JLB Property Associates, LLC as the seller.
On the Map
$4,000,000
$187/SF
Industrial
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Virginia Beach 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93