Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 165,952-square-foot warehouse in Goldsboro, North Carolina. Located at 1504 U.S. Highway 117 Bypass North, the single-tenant facility is leased to Beacon Roofing Supply. Stan Johnson Company’s David Bailey exclusively represented the seller, a group of individuals from Tampa, Florida. A Pennsylvania-based private investor, represented by Frank Casaccia of TD Commercial, purchased the asset for $5.7 million. The cap rate was not disclosed.
“Beacon Roofing is a NASDAQ-traded company, and this location serves as their distribution hub for eastern North Carolina,” said Bailey, Associate Director in Stan Johnson Company’s New York office. “Given the accessible location at the interchange of two highways, as well as their 20-year history at the site, this was an attractive value-add opportunity for a buyer seeking industrial investments in the Southeast.”
The property sits on 9.85 acres within one of North Carolina’s more desirable industrial markets. It was originally built in 1985 and was renovated in 2013. The asset is in close proximity to Seymour Johnson Air Force Base, Wayne Executive Jetport Airport and offers convenient access to heavily traveled thoroughfares.
“We saw a significant number of offers and ended up closing with MSA Properties LP within a very short timeframe,” added Bailey.