Senior Vice President Brad Pepin and Senior Associate Jonathan Thompson in Northmarq’s Tulsa commercial investment sales office successfully brokered the sale of a 387,303-square-foot distribution facility in Lumberton, NC. The single-tenant industrial asset is 100% leased to Elkay Plumbing Products Company. Northmarq represented the seller, an Atlanta-based developer while an individual investor based in California purchased the property.
Pepin commented on this successful transaction: “We were thrilled by market response as we marketed this newly constructed Class A build to suit for our seller. This net leased asset boasted quality construction, lease terms with tenant and location – all contributing factors that helped us find a private investor who met our seller’s objectives.”
Situated on almost 50 acres at the intersection of Interstate 95 and 74 ,the new build to suit facility is one of Elkay’s mission critical locations; it’s their second location in Lumberton and roughly three times larger than their current facility .
