Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 60,000-square-foot, mission critical, industrial distribution facility located at 4905 Winnebago Lane in Austin, Texas. The single-tenant facility is leased to ABC Supply Company, a leading distributor of building exteriors. Colin Couch and Jason Powell of Stan Johnson Company represented the seller, a California-based individual investor. The property was purchased at a 5.52 percent cap rate by a private investor based in Alaska.
“We were able to generate multiple offers and facilitated a competitive bidding environment,” said Couch, Associate Director in Stan Johnson Company’s Atlanta office. “The institutional quality construction, premier inner-Austin location, and long-term triple net lease all made this a highly sought-after industrial asset. The cap rate we were able to achieve emphasizes the strength we continue to see in the industrial sector of the net lease market.”
The state-of-the-art facility was constructed in 2015 as a build-to-suit for ABC Supply Company. The property is located just two miles south of downtown Austin and boasts direct access to Interstate 35 as well as close proximity to Austin-Bergstrom International Airport. At the time of sale, there were over 10 years of term remaining on the triple net lease.