Atlanta, Georgia, March 25, 2019 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 38,485-square-foot industrial building leased to FedEx Express. The mission-critical package sorting facility is located at 4908 Caswell Place West in Wilson, North Carolina, just off Interstate 95.
The property was sold by a Georgia-based private investor, which was represented by Stan Johnson Company’s Mollie Alteri, Joey Odom, Mike Sladich, and Maggie Holmes. The property sold on March 1, 2019 for $3.1 million.
“The appetite for FedEx leased and guaranteed assets in today’s private market continues to hold steady, with investors seeking the security of long-term leased real assets backed by investment grade credit tenants,” said Mollie Alteri, Associate Director in Stan Johnson Company’s Atlanta office.
The buyer, a private family trust out of Oakland, California, was represented by Barry W. Cohn of Cassidy Turley.
The tenant has occupied the property for 23 years and recently conducted multiple renovations along with a lease extension.
