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Selko Real Estate Ventures LLC Acquires Industrial Facility From Hermes Abrasives For $13.5M

Property Image
SOLD
$13,500,000
Geoffrey "Geoff" Poston
Brett Sain

Virginia

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Industrial150,640 SF
Sold 11/14/2025
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Property Image
SOLD

Selko Real Estate Ventures LLC Acquires Industrial Facility From Hermes Abrasives For $13.5M

524 Viking Drive

See Similar Deals
Industrial150,640 SF
Sold 11/14/2025
Geoffrey "Geoff" Poston
Brett Sain
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$89
Total Square Footage:150,640 SF
Transaction Type:Sale

This transaction involved the sale of an industrial facility located at 524 Viking Drive in Virginia Beach, VA. The asset, which has a total square footage of 150,640, was sold for a transaction amount of $13,500,000, resulting in a price per square foot of $90.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $13,500,000
  • Address: 524 Viking Drive
  • Market: Virginia Beach, VA
  • Square Footage: 150,640
  • Price Per Square Foot: $90
  • Buyer: Selko Real Estate Ventures LLC
  • Seller: Hermes Abrasives
  • Brokers: Geoffrey "Geoff" Poston & Brett Sain - Cushman & Wakefield

The deal featured representatives from Cushman & Wakefield, with Geoff Poston and Brett Sain acting on behalf of the buyer, Selko Real Estate Ventures LLC. Hermes Abrasives, the seller, completed the transaction on November 14, 2025, securing a significant sale in the industrial sector.

Players

Geoffrey "Geoff" Poston
Cushman & Wakefield
Geoffrey Poston
11 deals$95M volume
BROKER
Brett Sain
Cushman & Wakefield
Brett Sain
6 deals$66.2M volume
BROKER
Cushman & Wakefield
Cushman & Wakefield
BROKERAGE

Details

SOLD
IMAGE: 11/14/2025 ADDRESS: 524 Viking Drive MARKET: Virginia Beach, VA ASSET TYPE: Industrial BUYER: Selko Real Estate Ventures LLC SELLER: Hermes Abrasives BROKERS: Geoffrey "Geoff" Poston & Brett Sain - Cushman & Wakefield SALE PRICE: $13,500,000 SF: 150,640 ~ PPSF: $90 NOTE: Cushman & Wakefield | Thalhimer brokered the $13.5M sale of a 150,640 SF industrial facility at 524 Viking Drive in Virginia Beach, with Selko Real Estate Ventures acquiring the property from Hermes Abrasives. Thalhimer’s Geoff Poston and Brett Sain represented the buyer in the deal.

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

$720,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$47,962.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$63,996.89
Annual Debt Service$767,962.65