Stan Johnson Company Brokers Sale Leaseback of Eight-Property Industrial Portfolio for $28.0 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of an eight-building industrial portfolio across four states. Located in the Southeast and Texas, the portfolio totals more than 200,000 square feet on 70.5 acres. Stan Johnson Company’s Brad Pepin and Jeff Tracy represented the seller who executed long-term, absolute triple net leases at closing. Also representing the seller with legal and other advisory services were Tom Gates and David Maynard of Mirador Real Estate Advisors. The buyer was a New York-based institutional investor. They acquired the sale leaseback portfolio for $28.0 million, although the cap rate was not disclosed.
“This sale leaseback transaction brought together a very successful and leading national heavy equipment owner/operator and a proven institutional real estate buyer that will be a great landlord and owner for many years to come,” said Pepin, Senior Director and Partner in Stan Johnson Company’s Tulsa, Oklahoma headquarters. “Stan Johnson Company is very proud of the sale leaseback results achieved during this difficult pandemic environment. We’re excited to have met the expectations of our valued seller and client in this transaction.”
The portfolio encompasses eight distribution buildings and service facilities, including one newly built property that features a combination of industrial and office space and serves as the tenant’s headquarters.
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.