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.