The Lester Group Acquires 30750 SF Industrial Warehouse In Waynesboro VA For $5.55M
347 South Oak Lane
$5,550,000
$180/SF
Building Size
30,750 SF
Asset Type
Industrial
Closing
Jan 31, 2025
AI
The Lester Group, Inc. has purchased a 30,750 square foot Class A warehouse located at 347 South Oak Lane in Waynesboro, VA. The transaction was valued at $5,550,000, which translates to a price per square foot of $180. This asset is categorized as industrial property.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,550,000
- Sale Price Per Square Foot: $180
- Square Footage: 30,750 SF
- Address: 347 South Oak Lane
- Market: Waynesboro, VA
- Buyer: The Lester Group, Inc.
- Seller: Hathaway Real Estate Investments, LLC
- Brokers: Bo McKown, Catharine Spangler, John Pritzlaff & Jenny Stoner - Cushman & Wakefield
The sale-leaseback transaction involved Hathaway Paper Company, indicating continued operations at the property post-acquisition. The deal was brokered by a team from Cushman & Wakefield | Thalhimer, comprising Bo McKown, Catharine Spangler, John Pritzlaff, and Jenny Stoner, representing the seller, Hathaway Real Estate Investments, LLC.
Players
Waynesboro 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
2.86%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93