Tulsa, Oklahoma, June 14, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a single-tenant industrial facility in Oklahoma City, Oklahoma. The 133,630-square-foot warehouse, located at 4500 Southeast 59th Street, was fully leased to QES Pressure Control at the time of sale.
The property was sold by an affiliate of CIM Income NAV, Inc., which was represented by Stan Johnson Company’s Zach Harris, Ryan Butler and Jeff Hughes.
“This transaction showcases the continued demand for oil- and gas-related net lease assets, especially in a market like Oklahoma City,” said Harris, Director in Stan Johnson Company’s Tulsa office.
The property was purchased in mid-May 2019 by Mohegan Capital LLC, a Denver, Colorado-based private equity group. The transaction price was not disclosed.
“The lease featured a publicly traded tenant with a long operating history at the site, annual rental increases, and an absolute triple net expense structure,” added Harris. “The 1031 exchange-motivated buyer was attracted to these aspects of the opportunity.”
