Stan Johnson Company Brokers Private Buyer Sale of a North Carolina Warehouse for $5.7 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 165,952-square-foot warehouse in Goldsboro, North Carolina. Located at 1504 U.S. Highway 117 Bypass North, the single-tenant facility is leased to Beacon Roofing Supply. Stan Johnson Company’s David Bailey exclusively represented the seller, a group of individuals from Tampa, Florida. A Pennsylvania-based private investor, represented by Frank Casaccia of TD Commercial, purchased the asset for $5.7 million. The cap rate was not disclosed.
“Beacon Roofing is a NASDAQ-traded company, and this location serves as their distribution hub for eastern North Carolina,” said Bailey, Associate Director in Stan Johnson Company’s New York office. “Given the accessible location at the interchange of two highways, as well as their 20-year history at the site, this was an attractive value-add opportunity for a buyer seeking industrial investments in the Southeast.”
The property sits on 9.85 acres within one of North Carolina’s more desirable industrial markets. It was originally built in 1985 and was renovated in 2013. The asset is in close proximity to Seymour Johnson Air Force Base, Wayne Executive Jetport Airport and offers convenient access to heavily traveled thoroughfares.
“We saw a significant number of offers and ended up closing with MSA Properties LP within a very short timeframe,” added Bailey.
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.