Selko Real Estate Ventures LLC Acquires Industrial Facility From Hermes Abrasives For $13.5M
524 Viking Drive
$13,500,000
$89/SF
Building Size
150,640 SF
Asset Type
Industrial
Closing
Nov 14, 2025
AI
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
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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93