Stan Johnson Company Arranges 1031 Exchange Sale of Single-Tenant Industrial Building in Oklahoma
Tulsa, Oklahoma, June 14, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a single-tenant industrial facility in Oklahoma City, Oklahoma. The 133,630-square-foot warehouse, located at 4500 Southeast 59th Street, was fully leased to QES Pressure Control at the time of sale.
The property was sold by an affiliate of CIM Income NAV, Inc., which was represented by Stan Johnson Company’s Zach Harris, Ryan Butler and Jeff Hughes.
“This transaction showcases the continued demand for oil- and gas-related net lease assets, especially in a market like Oklahoma City,” said Harris, Director in Stan Johnson Company’s Tulsa office.
The property was purchased in mid-May 2019 by Mohegan Capital LLC, a Denver, Colorado-based private equity group. The transaction price was not disclosed.
“The lease featured a publicly traded tenant with a long operating history at the site, annual rental increases, and an absolute triple net expense structure,” added Harris. “The 1031 exchange-motivated buyer was attracted to these aspects of the opportunity.”
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.