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Chicago & Midwest  + Midwest  + Net Lease  |  September 13, 2021
Herc Rentals industrial service facility St. Peters MO
Paul Bubny
By: Paul Bubny

SJC Closes Sale of St. Louis-Area Industrial Service Facility

Stan Johnson Company (SJC) completed the sale of a single-tenant industrial service facility leased to Herc Rentals. The 11,591-square-foot property is located at 8016 Veterans Memorial Pkwy. in St. Peters, MO, a St. Louis suburb.  

Director Zach Harris of SJC, with assistance from senior analyst Mark Grossman, represented the seller, Nelson Grumney with Neland Investment Management. The asset was acquired by a private investor who was represented by Patrick Doherty with Marcus & Millichap. The property sold for more than $4.3 million. 

“The industrial outdoor storage (IOS) and industrial service facility (ISF) asset category has been a specialized focus for our team for quite some time, and this transaction represents another successful closing in this arena,” said Harris. “The marketplace for ISF and IOS deals continues to amplify from an array of investor types – institutional REITs, private equity, family offices, individual investors and 1031 exchange buyers. 

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Inside The Story

SJC’s Harris

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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