Stan Johnson Company Announces Sale of Industrial Facility in Colorado for $3.1 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 37,864-square-foot industrial building leased to Beacon Roofing Supply, the largest distributor of residential and non-residential roofing and complementary building products in North America. The property, located at 185 Gemat Circle in Rifle, Colorado, was purchased by a private investor based in Southern California for $3.1 million, reflecting a 6.4 percent cap rate. Stan Johnson Company’s David Wirgler represented the Colorado-based seller, Blue Wing Capital Management LLC.
“Investor demand for strong credit industrial product remains at an all-time high,” said Wirgler, Associate Director in Stan Johnson Company’s Newport Beach, California office. “Lack of supply for these investments, especially in the Western region of the U.S., created an excellent opportunity to maximize value in the market.”
The warehouse is situated on 2.0 acres and was built in 2010. The site provides convenient access to Interstate 70 and is approximately one hour northwest of Aspen, Colorado.
“We executed a seven-year lease extension beginning the first of this year and felt it was the right time to sell and recycle the capital,” states Peter Shaw, managing member of Blue Wing Capital Management LLC.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm provides acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.