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Fully Leased Industrial Building in Mayodan Trades Ownership for $8M
A 224,888-square-foot single-tenant distribution building in the Winston-Salem submarket of Mayodan, NC has traded for $8.3 million. The facility at 700 South Ayersville Road is leased to firearm manufacturer Sturm, Ruger & Company, Inc.
Rob Gemerchak of Northmarq represented the seller, a NC-based investment partnership. A Hiddendite, NC-based investor acquired the asset.
“The Mayodan asset received a great deal of national interest and multiple proposals from investors due to the financial strength of the tenant, the quality of the property and the continued growth of the Greensboro and Winston-Salem industrial markets,” said Gemerchak. “Despite the recent disruption in the debt markets, we continue to actively transact and successfully close sales, as the industrial net lease product remains in high demand as a favored asset class among investors.”
The recently upgraded center sits on 16.09 acres and features ceiling heights up to 25 feet, eight dock doors, full fire suppression, heavy power capacity and a 8,200-square-foot front office.
- ◦Sale/Acquisition
