Stan Johnson Company Arranges Sale of Net Lease Industrial Building for $7.1 Million

Tulsa, Oklahoma, April 16, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 36,720-square-foot industrial building in Gillette, Wyoming. The single-tenant property, located at 2600 East 2nd Street, is fully occupied by Cummins Inc. on a double net lease.

The property was purchased by New York-based AR Global Investments LLC for $7.1 million, and the seller was a local Wyoming developer. Both parties were represented by Stan Johnson Company’s Jason Powell and Colin Couch.

“The tenant has shown exceptional commitment to the location by extending the original lease by an additional ten years,” said Powell, Senior Director.

The property is located in the northeastern corner of Wyoming and is situated along Interstate 90, the major route connecting the area to metropolitan hubs in the neighboring states of South Dakota and Montana. The property sold at a 6.85 percent cap rate on March 29, 2019.

 

View Profile
View Profile
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.