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1/21/21
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An unnamed New York-based institutional investor acquired an eight-building industrial portfolio in a recent $28 mil sale/leaseback purchase. The portfolio, located across four states in the Southeast and Texas, totals more than 200k sf of space on 70.5 acres.
The portfolio encompasses eight distribution buildings and service facilities, including one newly built property that features a combination of industrial and office space and serves as the tenant’s headquarters. From what we understand, the seller was a leading national heavy equipment owner/operator.
Stan Johnson Company’s Brad Pepin and Jeff Tracy represented the seller, who executed long-term, absolute triple net leases at closing. Also repping the seller with legal and other advisory services were Tom Gates and David Maynard of Mirador Real Estate Advisors.
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