Updated Sep 22, 2026
E.T. Gresham Company Acquires Industrial Property In Norfolk For $3.9 Million
3489 Westminster Avenue
$3,900,000
$43/SF
Building Size
90,725 SF
Asset Type
Industrial
Closing
Sep 18, 2026
About this deal
AI
The industrial property located at 3489 Westminster Avenue in Norfolk, VA, spans 4.75 acres and features a total square footage of 90,725. The transaction was closed for a price of $3,900,000, resulting in a price per square foot of $43.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,900,000
- Address: 3489 Westminster Avenue
- Market: Norfolk, VA
- Asset Size: 4.75 Acres
- Square Feet: 90,725
- Price Per Square Foot: $43
- Buyer: E.T. Gresham Company, Incorporated
- Seller: Westminster Avenue Holdings, LLC
- Broker Representatives: Brett Sain & Geoffrey "Geoff" Poston - Cushman & Wakefield
E.T. Gresham Company, Incorporated completed the purchase of the property from Westminster Avenue Holdings, LLC, with representation provided by Brett Sain and Geoffrey "Geoff" Poston of Cushman & Wakefield. This transaction highlights the involvement of these key industry players in facilitating the deal.
On the Map
$3,900,000
$43/SF
Industrial
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Players
Norfolk 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
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93