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Stan Johnson Company Brokers $16M Sale-Leaseback of Atlanta Industrial Facility
Stan Johnson Company has completed the $16-million sale of a 170,000-square-foot, two-building storage and distribution facility on Fulton Industrial Boulevard in Atlanta. Stan Johnson Company’s Robert Poirier represented the seller and tenant, Diaz Wholesale & Manufacturing, which executed a long-term triple net lease at the time of sale. The buyer, a New York-based institutional investor, acquired the asset.
“Because of timing constraints, we conducted an off-market campaign, created a very competitive environment and received offers from eight of the 10 potential investors,” said Poirier, associate director in Stan Johnson Company’s Atlanta office. “The entire process took less than 60 days, and we were able to set a new record for price per square foot in Atlanta’s Fulton industrial submarket on comparable buildings.”
The property is on 12.4 rail-served acres in a primary industrial corridor. The asset features freezer-cooler, refrigerator and dry storage along with office space and a truck maintenance building.
- ◦Sale/Acquisition
