Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 22,251-square-foot industrial building leased to FedEx Ground. The property is located at 876 Blaine Street in Helena, Montana. The seller, a private investor based in Laguna Beach, California, was represented by Stan Johnson Company’s Colin Couch. The asset was purchased by a private investor from Jacksonville, Oregon. The property traded for approximately $4.1 million, reflecting a 6.10 percent cap rate.
“This asset is particularly insulated from e-commerce and recession due to the nature of FedEx Ground’s logistics operations,” said Couch, Associate Director in Stan Johnson Company’s Atlanta, Georgia office. “FedEx has positioned itself to take full advantage of the explosion of e-commerce and the resulting business-to-business and business-to-consumer shipments.”
The property was constructed as a build-to-suit for FedEx in 2014, and it is situated on 6.3 acres adjacent to the Helena Regional Airport and Interstate 15. At the time of sale, there were approximately three years remaining on the tenant’s lease.
“The property is the only major FedEx facility in the Helena metropolitan area, and it is extremely mission-critical to FedEx in servicing the area,” added Couch.
