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Florida & Gulf Coast  + Gulf Coast  + Industrial  | 
Stan Johnson Company has finalized the $21.3-million sale of a single-tenant industrial facility leased to Advanced Distributors Products in Grenada, MS.

Stan Johnson Completes $21M Sale of Single-Tenant Distribution Facility in Grenada

Stan Johnson Company has finalized the $21.3-million sale of a single-tenant industrial facility leased to Advanced Distributors Products in Grenada, MS. The 288,000-square-foot property serves as the distribution center for the tenant’s manufacturing plant located one mile east.

Mike Sladich and Maggie Holmes of Stan Johnson Company represented the seller, Agracel, Inc. The buyer was a Dallas, TX-based REIT.

“There continues to be strong investor demand for new industrial product, especially fungible warehouse space like ADP Grenada,” said Holmes. “We received a lot of interest from both institutional and private buyers, and we ultimately sold at full ask to an institution who closed in 45 days. At $74 per square foot, the property was placed well below replacement cost and with construction costs still on the rise, this was an important metric to investors.”

The property is between Memphis, TN and Jackson, MS with access to Interstate 55, Grenada Municipal Airport and Grenada Railroad.

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Stan Johnson Company’s Holmes

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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