Stan Johnson Arranges Sale of Single-Tenant Iowa Industrial
Stan Johnson Company (SJC) has completed the sale of a single-tenant industrial building leased to Dieomatic Incorporated, a subsidiary of Magna International, a leading tier one global automotive supplier. The 194,267-square-foot manufacturing building is located at 403 S. 8th St. in Montezuma, IA.
SJC’s Rob Gemerchak represented the seller, a New York-based private investment firm. The buyer, an individual investor based in Des Moines, acquired the asset for $8.3 million.
“We received strong interest from investors who recognized the mission-critical nature of the facility as well as the intrinsic value the full-scale manufacturing capabilities provided to the real estate,” said Gemerchak, director in SJC’s Toledo, OH office. “Industrial manufacturing facilities with Interstate access and a proximate employment base remain a very attractive segment within the net lease marketplace as vacancies are low, demand is strong and lease rates continue to increase for these production-capable facilities.”
- ◦Sale/Acquisition