Lexington Realty Sells West Virginia Amazon Property

The new owner secured a 10-year, $11.8 million acquisition loan from Wesbanco Bank.
Amazon Customer Service Center. Image courtesy of Sentinel Net Lease

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.