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3945 South Military Highway

HREP Acquisitions LLC Purchases 6 Acres Of Industrial Land In Chesapeake From Cummins Inc For $1.5M
SOLDIndustrial

HREP Acquisitions LLC Purchases 6 Acres Of Industrial Land In Chesapeake From Cummins Inc For $1.5M

3945 South Military Highway & 3953 South Military Highway

$1,500,000

Building Size

Asset Type

Industrial

Closing

Jun 30, 2025

AI

3945 South Military Highway and 3953 South Military Highway is a 6-acre industrial property located in Chesapeake, VA. The asset has recently been sold for $1,500,000.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $1,500,000
  • Buyer: HREP Acquisitions, LLC
  • Seller: Cummins, Inc
  • Broker: Geoffrey Poston - Cushman & Wakefield

Cushman & Wakefield’s Geoffrey Poston and Taylor Anderson were involved in brokering the transaction on behalf of the seller, Cummins, Inc, facilitating the sale of the industrial land to HREP Acquisitions, LLC.

Players

Geoffrey Poston

Cushman & Wakefield

Broker

$96.4M

vol

12 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage

Chesapeake 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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93