Stan Johnson Company Completes Sale of Fort Worth, Texas Industrial Facility
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant, 18,561-square-foot industrial building leased to HERC Rentals Inc. The property is located at 4901 Carey Street in Fort Worth, Texas. Zach Harris and Brad Pepin of Stan Johnson Company exclusively represented Mohr Capital, the Dallas, Texas-based developer and seller. The asset was purchased by a California-based private investor as part of a 1031 exchange.
“This was a very successful transaction for all parties involved,” said Harris, Director in Stan Johnson Company’s Tulsa, Oklahoma office. “The seller, who originally developed the project, delivered a high-quality, build-to-suit facility for the tenant that is now being replicated as a new prototype for HERC Rentals moving forward. For the buyer, it was a great opportunity to acquire a newly constructed, industrial outdoor storage property leased to a top-three, nationwide equipment rental company on a long-term triple net basis in one of the fastest growing and strongest construction markets in the U.S.”
Mohr Capital completed the development for HERC Rentals in 2018, and it features ample outdoor equipment storage yard areas. With direct frontage and visibility to Interstate 820 and Highway 287, the property is strategically located on 6.15 acres in a dense industrial corridor just seven miles southeast of downtown Fort Worth, Texas. Notable industrial users in the area include FedEx Ground, Old Dominion Freight Line, and UPS Freight, among others. At the time of sale, there were 13 years left on the tenant’s 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.