Stan Johnson Company Brokers Sale of Virginia Manufacturing Facility Leased to Mack Trucks for $12.7 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of a single-tenant manufacturing facility fully leased to the Mack Trucks division of parent company, AB Volvo Group, which is one of the world’s leading manufacturers of trucks, buses, construction equipment, and marine and industrial engines. Located at 6450 Technology Drive in Salem, Virginia, the 280,900-square-foot property was marketed on behalf of ownership by Stan Johnson Company’s Rob Gemerchak, SIOR/CCIM. The seller was an individual investor based in Virginia, and a private equity partnership based in Buenos Aires, Argentina acquired the asset for $12.7 million.
“Despite the relatively short-term nature of the lease, Mack Trucks and Volvo’s significant capex commitment and long-term plans for the site created a compelling story which attracted strong interest from the national and international investment communities,” said Gemerchak, Director in Stan Johnson Company’s Toledo, Ohio office. “We also recognized, and promoted to investors, the excellent fit between the property’s capabilities and the tenant’s needs. The building’s robust and flexible infrastructure, combined with pad-ready-adjacent acreage on the site, will accommodate future changes in manufacturing processes as well as expansion.”
The mission-critical facility launched production in 2020 and serves as Mack Trucks’ only medium-duty assembly plant in the country. The facility, originally built in 1997 on 134 acres, is strategically located along Interstate 81 just west of Roanoke, Virginia, and it offers convenient access to Interstates 64 and 77 as well. The property is less than 50 miles from Volvo’s largest truck manufacturing facility in the world, located in Dublin, Virginia.
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.