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Northmarq Brokers Class-A NC Industrial Sale
Senior Vice President Brad Pepin and Senior Associate Jonathan Thompson in Northmarq’s Tulsa commercial investment sales office arranged the sale of a 387,303-square-foot distribution facility in Lumberton, NC. The single-tenant industrial asset is 100-percent leased to Elkay Plumbing Products Company. Northmarq represented the seller, an Atlanta-based developer. The buyer was an individual investor based in California.
“As we marketed this newly constructed Class-A build-to-suit for our seller, we were thrilled by the market response overall,” said Pepin. “This net leased asset boasts of its quality construction, lease, tenant and location – all contributing to finding the right private investor who met our seller’s objectives.”
Situated on almost 50 acres, the facility is strategically located at the intersection of Interstate 95 and 74. The new build-to-suit facility is one of Elkay’s mission-critical locations. It’s Elkay’s second location in Lumberton and roughly three times larger than their current facility.
- ◦Sale/Acquisition
