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.