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Cedar Creek - Richmond

2510 Bellwood Road, Richmond, VA 23237
Availability: Offering Price:$6,255,000 Size:89,612 SF
Shipping: Institutional Property Advisors, a division of Marcus & Millichap, is pleased to present for sale Cedar Creek, Richmond, Virginia.
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Description





Agents

BEN TASHAKORIAN | SENIOR MANAGING DIRECTOR INVESTMENTS


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

Scott Hilmen | Associate

Member: NOIPG
License: CA 01960113
Cel: (619) 665-0671
Dir: (858) 373-3123
scott.hilmen@marcusmillichap.com

Description

Institutional Property Advisors, a division of Marcus & Millichap, is pleased to present for sale Cedar Creek, Richmond, Virginia. As a strategic distribution point for the Mid-Atlantic market, this location allows Cedar Creek to service customers within a broad radius extending to Washington, D.C. to the north, Lynchburg to the west, North Carolina’s Outer Banks to the south and Norfolk/Virginia Beach to the east. The property is comprised of an 89K square foot industrial building on 19 acres of land, offering ample and critical storage area for building materials. Richmond’s location midway between Boston and Atlanta and efficient transportation network allow this location to be easily serviced by suppliers of domestic and imported products.

As part of the Charlesbank private equity portfolio and alongside other nationally recognizable brands such as Del Taco, Sealy and Penske Auto Group, Cedar Creek is the third largest wholesale distributor of building materials to lumber yards and the largest distributor of cedar products in the nation. Beginning as one yard in Tulsa, OK, in 1977, the company has since expanded its operations to 31 distribution and custom milling facilities and today provides services to more than 30 states across the Midwest and Southeast and Mid-Atlantic.

Features

  • Approximately 12.5 years remaining on an absolute NNN lease
  • Cedar Creek is a leading wholesale building materials distribution company with 30+ locations nationwide
  • Property comprised of an 89K SF industrial building with showroom space situated on 19 acres
  • Location is critical to Cedar Creek’s expansion in the Mid-Atlantic market
  • Customer distribution and service area extends to Washington DC to the north, Lynchburg, VA to the west, the Outer Banks to the south and Norfolk/Virginia Beach to the east
  • Less than 0.25 miles to I-5, a short walk to the beach and easy
  • Warehouse includes a ceiling height of 28 feet, with 4 dock-high doors and 7 on-grade doors
  • Property includes 3-Phase power and is sprinklered

Offering Price

$6,225,00

Building Size

89,612 SF

Cap Rate

6.00%

Price Per SF

$69.80

Year Built

1986

Years Remaining

12+ Years

Lease Type

Absolute Net

Details

  • 22932235
  • Industrial
  • Offering Price:$6,255,000 Size:89,612 SF
  • New

Shipping Information

  • Item Requires Shipping
  • Institutional Property Advisors, a division of Marcus & Millichap, is pleased to present for sale Cedar Creek, Richmond, Virginia.

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