Stan Johnson Company Arranges Single-Tenant Industrial Sale For $11.2 Million
Tulsa, Oklahoma – August 14, 2018 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 242,630-square-foot industrial building for $11.2 million. The distribution warehouse is located in Hazelwood, Missouri, a suburb of St. Louis, and it traded on July 12, 2018.
Fully occupied by GL Group Inc., a prominent national book distributor, the property was acquired by Rochester, New York-based Broadstone Net Lease Inc. Stan Johnson Company’s team of Zach Harris and Brad Pepin represented the Clayton, Missouri-based developer, Green Street St. Louis.
“The seller did a masterful job undertaking significant renovations to the building before leasing the top-quality property to GL Group Inc.,” said Zach Harris, Director in Stan Johnson Company’s Tulsa office. The newly renovated facility is located at 8950 Pershall Road. It is subject to a long-term net lease with annual rent increases and limited landlord responsibilities.
“During our marketing process, this asset garnered attention from multiple buyer types nationwide,” said Harris. “The seller selected an experienced REIT that focuses on single-tenant properties where the real estate is an integral part of the tenant’s business.”
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 service 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.