Lexington Realty Sells West Virginia Amazon Property
- Apr 16, 2020
Lexington Realty Trust has sold an Amazon Customer Service Center in Huntington, W.Va., to Sentinel Net Lease. The 69,000-square-foot office building changed hands for $16.9 million. CBRE negotiated on behalf of the seller, while Sands Investment Group assisted the buyer.
The new owner received an $11.8 million acquisition loan from WesBanco Bank, according to public records. The note carries a 3.75 percent fixed interest rate and is set to mature in 2030. The asset last traded in 2012, when Lexington purchased it for $12.7 million from a private investor.
Located on 8 acres at 500 Kinetic Drive, the single-story building was completed in 2011. Situated in Kinetic Park, the property is close to Interstate 64 and roughly 13 miles from Huntington Tri-State Airport. Downtown Huntington is less than 4 miles north.
The Sands Investment Group team included Matson Kane and Teddy Leonard. CBRE Vice Chairman & Managing Director Will Pike brokered the transaction on behalf of Lexington Realty Trust. In January, the company paid nearly $100 million to acquire a 1.3 million-square-foot Class A distribution center in Greer, S.C.