Stan Johnson Company Arranges Sale of Texas Industrial Building Above List Price
Tulsa, Oklahoma, May 7, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 27,211-square-foot industrial building in Brookshire, Texas. The single-tenant property, located at 502 FM Highway 359 Road South, is fully occupied by H&E Equipment Services on a net lease with more than 10 years of lease term remaining.
The property was sold by a foreign institutional group represented by Stan Johnson Company’s Zach Harris.
“Equipment rental and services deals are increasing in abundance and popularity as that industry sector continues to exhibit substantial year-over-year growth,” said Harris, Director in Stan Johnson Company’s Tulsa office. “We have traded several of these equipment services assets for clients over the past few years, achieving attractive pricing as a result of the increasing investor demand.”
The property was purchased for $4.2 million on April 11, 2019 by a southern California-based individual investor on a 1031 exchange. Mike Erwin of Colliers International represented the buyer.
“Investor demand for sub-$5 million net lease industrial deals in today’s marketplace remains very strong, especially among the 1031 exchange buyer segment. This particular asset generated multiple offers and ultimately traded above the list price,” added Harris.
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.