Stan Johnson Company Announces Sale of a Two-Building Industrial Facility in East Texas

Altemus-Industrial

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of 812 and 814 South Eastman Road in Longview, Texas. The two-building industrial facility totals 28,907 square feet and is leased to ADB Companies and S&B Engineers. Evan Altemus of Stan Johnson Company represented the seller, an individual investor from Tyler, Texas. The property was acquired by a private 1031 exchange buyer based in California at a 9.30 percent cap rate. The sale price was not disclosed.

“It’s becoming increasingly more difficult to find industrial properties with yield in today’s market, so this investment property received significant interest,” said Altemus, Associate Director in Stan Johnson Company’s Dallas, Texas office. “It was a unique situation where the seller wanted to shift more toward single-tenant investments, while the buyer was targeting higher cap rate, value-add industrial assets. The property has two strong credit tenants in place and the ability to generate additional income through value-add possibilities.”

The properties were originally built in 1972 and 1978 and have seen numerous improvements in recent years. They are situated on 2.82 acres near U.S. Highway 259 in an industrial and supply area with numerous other tenants including Howard Supply, Daily Electric Motor, Baxter Packaging and Tracker Boats, among others. The site is approximately two hours east of Dallas, Texas and one hour west of Shreveport, Louisiana, and it offers quick access to Interstate 20.

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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 and its affiliates provide 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.