Industrial · Shelby, North Carolina
4401 E. Dixon Blvd
4401 E. Dixon Blvd is financed with a $9.0M CMBS loan at 6.09% that reaches maturity on December 1, 2032, in 6 years and 1 month. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $8,970,000
- Original balance (same notes)
- $8,970,000
- Interest rate
- 6.09% fixed
- Originated
- December 1, 2022
- Maturity
- December 1, 2032
- Payments
- Interest only for the full term
- Prepayment lockout ends
- August 31, 2032
- Master servicer
- Trimont LLC
- Originator
- Morgan Stanley Bank, N.A.
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 4401 East Dixon Boulevard, Shelby, NC 28152
- Rentable area
- 269,542 sq ft
- Built
- 1981, renovated 2001
- Largest tenants
- Robert Bosch Tool Corportation; DLG international Inc
- Value at securitization
- $14.1M (Sep 2022)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.73x | 2.23x |
| Occupancy | 100% | 100% |
| Net operating income (annualized from 6 months) | $958K | $1.2M |
| Debt yield | 13.9% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the BANK 2023-BNK45 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Largest tenant's lease ends within 12 months
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Net operating income is 30% above the underwritten figure ($1.2M a year against $958K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.73x at securitization to 2.23x on the latest statements.
- The filing gives Jun 2027 as the lease end date for the largest tenant (Robert Bosch Tool Corportation), before the loan matures. Lenders look hard at that rollover.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $9.0M | Current | No | 2.23x | 100% |
| August 2026 | $9.0M | Current | No | 2.23x | 100% |
| July 2026 | $9.0M | Current | No | 3.11x | 100% |
| June 2026 | $9.0M | Current | No | 3.11x | 100% |
| May 2026 | $9.0M | Current | No | 3.11x | 100% |
| April 2026 | $9.0M | Current | No | 1.76x | 100% |
| March 2026 | $9.0M | Current | No | 1.76x | 100% |
| February 2026 | $9.0M | Current | No | 1.76x | 100% |
| January 2026 | $9.0M | Current | No | 1.98x | 100% |
| December 2025 | $9.0M | Current | No | 1.98x | 100% |
| November 2025 | $9.0M | Current | No | 1.98x | 100% |
| October 2025 | $9.0M | Current | No | 2.03x | 100% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| BANK 2023-BNK45 | 18 | $8,970,000 | Sep 2026 | SEC filing, September 29, 2026 |
Other North Carolina loans due in 2032
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| Concord Mills | Concord, NC | Retail | $225.0M | 6.548% | Nov 2032 | 2.38x | 95% | Current |
| Poplin Place | Monroe, NC | Retail | $24.1M | 4.43% | Apr 2032 | 1.25x | 86% | Current |
| Hanes Commons Shopping Center | Winston-Salem, NC | Retail | $21.7M | 3.636% | Jan 2032 | 2.12x | 80% | Current |
| Creekside Plaza | Shelby, NC | Retail | $20.9M | 5.70% | Jun 2032 | n/a | n/a | Current |
| NC Self Storage Portfolio | Pittsboro, NC | Self storage | $16.9M | 5.313% | Jul 2032 | n/a | n/a | Current |
| Kewaunee Scientific | StatesvIlle, NC | Industrial | $16.6M | 4.95% | Apr 2032 | 2.38x | 100% | Current |
| New Bern Marketplace | New Bern, NC | Retail | $14.7M | 4.992% | May 2032 | 2.03x | 100% | Current |
| Raleigh GSA | Raleigh, NC | Office | $12.9M | 3.71% | Jan 2032 | n/a | n/a | Current |
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.