Stan Johnson Company Completes Sale of Southeast Industrial Building for $4.3 Million

New York, New York, April 8, 2019  – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 75,000-square-foot industrial building leased to Vital Records Control. The single-tenant property is located at 2020 Northwest Progress Parkway in Jackson, Mississippi, and was a build-to-suit constructed in 2009. The modernized facility boasts a 32-foot clear height and sits on nearly 10 acres.

The property was purchased by a West Coast-based private investor, represented by James Ullrich, Director and Michael Macchia, Associate, in Stan Johnson Company’s New York office.

“This trade demonstrates the strong demand for industrial properties in today’s market – especially in the Southeast U.S.,” said Ullrich. “Jackson, Mississippi, while not a primary market, is attractive as a state capital, which can provide stability in a changing environment.”

The property was sold by VRC Properties, LLC – a private investor based in Memphis, Tennessee. The property sold on March 14, 2019 for $4.3 million.

 

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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 $40 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.