Stan Johnson Company Brokers $16.8 Million Sale of Distribution Facility in Ohio
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant industrial property in Findlay, Ohio. The 402,604-square-foot distribution warehouse is fully leased to American Plastics and is located at 14801 County Road 212. Rob Gemerchak, SIOR/CCIM and Jeff Hughes, SIOR of Stan Johnson Company represented the seller, Nickolas LLC, a locally based developer. The buyer, Plymouth Industrial REIT Inc., was an institutional investor from Boston, Massachusetts, and they purchased the asset for $16.8 million.
“American Plastics is a leading designer, manufacturer, and distributor of innovative plastic-injection molded products, and they maintain a footprint of 15 state-of-the-art manufacturing and distribution facilities across North America,” said Gemerchak, Director in Stan Johnson Company’s Toledo, Ohio office. “The Findlay facility, located here in Northwest Ohio, is in a strong industrial market that boasts an impressive vacancy rate of only 1.0 percent.”
The property was originally built in 1998. It sits on 24 acres and has a 28-foot clear height, along with 44 dock doors and a fenced truck court. The asset is located in close proximity to Interstate 75 and is within a day’s drive of a large portion of the U.S. population. At the time of sale, there were approximately nine years left on the triple net lease.
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 $35 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.