Stan Johnson Company Arranges Sale of 375,600-Square-Foot, Mission-Critical Manufacturing Headquarters in Ocala, Florida

Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 375,600-square-foot, mission-critical industrial manufacturing, distribution and headquarters facility located at 1900 Southwest 44th Avenue in Ocala, Florida. The single-tenant facility is leased to Custom Window Systems and was purchased by Sky Management Services, a privately funded and managed real estate company headquartered in New York.

The property was listed for more than $28.0 million and was sold by a New York City-based institutional investor for an undisclosed price. The seller was represented by Mollie Alteri, Joey Odom, Mike Sladich, and Maggie Holmes of Stan Johnson Company.

“The offering presented buyers with an opportunity to acquire a logistically significant industrial asset on a long-term lease that has strategic access to one of the fastest growing regions in the country,” said Alteri, Associate Director in Stan Johnson Company’s Atlanta office. “Investors recognize that the favorable economic climate in Florida, coupled with a growing population, will help insulate this regional market from headwinds that the greater economy may face as we move toward the end of this market cycle.”

The state-of-the-art facility was constructed in 2006 as a build-to-suit. In 2017, it was expanded by 150,000 square feet, and the property boasts direct access to Interstate 75. At the time of sale, there were nearly 15 years of term remaining on the absolute triple net lease.

“We are very pleased to announce this acquisition, our first in the Florida market. We want to thank the Stan Johnson Company team in facilitating the closing of this transaction,” said Marc Civitillo, Managing Director at Sky Management. “We are actively seeking similar mission-critical, single-tenant investments throughout the United States.”

 

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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.