Stan Johnson Company Completes Sale of Southeast Industrial Building for $4.3 Million
New York, New York, April 8, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 75,000-square-foot industrial building leased to Vital Records Control. The single-tenant property is located at 2020 Northwest Progress Parkway in Jackson, Mississippi, and was a build-to-suit constructed in 2009. The modernized facility boasts a 32-foot clear height and sits on nearly 10 acres.
The property was purchased by a West Coast-based private investor, represented by James Ullrich, Director and Michael Macchia, Associate, in Stan Johnson Company’s New York office.
“This trade demonstrates the strong demand for industrial properties in today’s market – especially in the Southeast U.S.,” said Ullrich. “Jackson, Mississippi, while not a primary market, is attractive as a state capital, which can provide stability in a changing environment.”
The property was sold by VRC Properties, LLC – a private investor based in Memphis, Tennessee. The property sold on March 14, 2019 for $4.3 million.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses exclusively on net lease transactions involving retail, office, industrial, healthcare and sale-leaseback properties. The firm provides acquisition, disposition, capital markets and advisory services for institutions, developers, investment funds and private investors across the United States. Now in its fourth decade of serving as a trusted advisor to its valued clients, Stan Johnson Company has completed more than $30 billion in transactions nationwide and is regarded as the Net Lease Authority®. To learn more about Stan Johnson Company, please visit the recently enhanced website at www.stanjohnsonco.com.