Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant, 18,561-square-foot industrial building leased to HERC Rentals Inc. The property is located at 4901 Carey Street in Fort Worth, Texas. Zach Harris and Brad Pepin of Stan Johnson Company exclusively represented Mohr Capital, the Dallas, Texas-based developer and seller. The asset was purchased by a California-based private investor as part of a 1031 exchange.
“This was a very successful transaction for all parties involved,” said Harris, Director in Stan Johnson Company’s Tulsa, Oklahoma office. “The seller, who originally developed the project, delivered a high-quality, build-to-suit facility for the tenant that is now being replicated as a new prototype for HERC Rentals moving forward. For the buyer, it was a great opportunity to acquire a newly constructed, industrial outdoor storage property leased to a top-three, nationwide equipment rental company on a long-term triple net basis in one of the fastest growing and strongest construction markets in the U.S.”
Mohr Capital completed the development for HERC Rentals in 2018, and it features ample outdoor equipment storage yard areas. With direct frontage and visibility to Interstate 820 and Highway 287, the property is strategically located on 6.15 acres in a dense industrial corridor just seven miles southeast of downtown Fort Worth, Texas. Notable industrial users in the area include FedEx Ground, Old Dominion Freight Line, and UPS Freight, among others. At the time of sale, there were 13 years left on the tenant’s triple net lease.
