Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a single-tenant industrial building located in Carrollton, Georgia. The 78,000-square-foot property at 150 Adamson Industrial Boulevard was fully occupied by Superior Recreational Products. A Georgia-based private investor, Carrollton Properties LLC, sold the building for $3.0 million.
Stan Johnson Company’s Jimmy Ullrich and Michael J. Macchia represented the buyer, an individual investor from California.
“The buyer satisfied a 1031 exchange with a high-quality piece of industrial real estate,” said Ullrich, Director in Stan Johnson Company’s New York office. “As a testament to the industrial sector’s in-demand status, this property went under contract within a week of going to market.”
The tenant is a wholly owned subsidiary of PlayCore Holdings Inc., and the building sits on approximately 7.0 acres within a qualified opportunity zone.
“The tenant is a national manufacturer of shade products for playgrounds and other applications,” added Ullrich. “The manufacturing component provided a ‘stickiness’ element, while the building’s distribution function provided residual protection. The location too was attractive, as Atlanta is the largest market in the popular Southeast region.”