4300 Carolina Avenue
Realized 4300 Carolina Ave is a 223,479 square-foot industrial building acquired vacant from International Speedway Corporation on April 1, 2021. 4300 Carolina Ave is located in the Laburnum/Route 360 submarket of Richmond, VA. At acquisition, the warehouse building was 100% vacant. The asset was acquired at approximately 61% below replacement cost of $90/SF.
Investment Info
- Status: Realized
- Market: Richmond, VA
- Property Type:
Industrial - Square Footage: 223,479
- Lingerfelt Role: Sole-Owner
- Strategy: Acquisition
- Sub-Strategy: Reposition, Renovation, Lease-Up
Investment Metrics
- Entry Date: April 01, 2021
- Purchase Price: $7,800,000
- Total Capitalization: $15,800,000
- Exit Date: April 14, 2022
- Exit Price: $22,250,000
- Hold Period: 1 Year
