Stan Johnson Company Brokers Sale of Sterling, Virginia Industrial Asset

23745 Pebble Run Place Sterling, Virginia

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of 23745 Pebble Run Place in Sterling, Virginia. The 6,000-square-foot industrial property is fully leased to Herc Rentals. The asset was built in 2017 and features an equipment service bay area. Stan Johnson Company’s Zach Harris represented the seller, a private investor based in Hawaii. A New York-based private equity firm acquired the asset for an undisclosed price reflecting a 5.26 percent cap rate.

“For this transaction, we ran a targeted private placement process and were able to court a very qualified private equity firm that recently raised a new fund to target well-located industrial outdoor storage (IOS) assets nationwide,” said Harris, Director in Stan Johnson Company’s Tulsa, Oklahoma headquarters. “The purchaser was very attracted to the strong location in the Sterling submarket near Dulles, understood the long-term residual value of this asset and are excited to add a tenant like Herc to their portfolio.”

Situated on 3.17 acres, the property is located in a highly populated and affluent area, west of Washington D.C., near Dulles International Airport. The facility features a fully fenced outdoor equipment storage yard, a finished office space, an on-site fueling station and a charging station for electrical equipment. Herc Rentals operates on a double net lease.

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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 $45 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.