Stan Johnson Company Brokers $7.5 Million Sale Leaseback of Two-Building Industrial Facility Near Atlanta, Georgia
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of the former Mount Vernon Mills manufacturing and distribution facility located at 2850 Gainesville Highway in Alto, Georgia. Two buildings totaling approximately 641,000 square feet, along with 106 acres, were included in the sale. Stan Johnson Company’s Robert Poirier represented Mount Vernon Mills in the short-term sale leaseback. The property was acquired for $7.5 million by Phoenix Investors LLC, a developer based in Milwaukee, Wisconsin.
“This was an excellent opportunity for Mount Vernon Mills to divest of a facility that was no longer needed for their current operations,” said Poirier, Associate Director in Stan Johnson Company’s Atlanta, Georgia office. “The sale leaseback was structured to give Mount Vernon Mills enough time to disassemble and remove the equipment and machinery located across the two buildings, while providing the new owner the ability to make necessary improvements as they look to lease the buildings.”
The well-maintained property includes security fencing around the perimeter with gated access and is located 70 miles northeast of downtown Atlanta, featuring convenient access to Interstates 85 and 985.
“We received numerous offers and continued to have interest in the buildings up until the closing date,” added Poirier.
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.