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Chicago & Midwest  + Midwest  + Industrial  |  November 17, 2021
Paul Bubny
By: Paul Bubny

Topeka FedEx Facility trades to 1031 Investor

Stan Johnson Company (SJC) has completed the sale of a FedEx distribution facility located at 5116 SW Wenger St. in Topeka, KS. The 26,892-square-foot property traded to a Wisconsin-based 1031 exchange investor.  

SJC’s Erik Lundberg represented the seller, an investor group based in New Jersey which acquired the property less than a year prior. The asset traded for approximately $16.4 million, reflecting a 5% cap rate. 

“We were able to take advantage of extremely strong market demand for industrial logistics assets and place a 1031 buyer at a top-of-market cap rate,” said Lundberg, associate director in SJ’s Tulsa headquarters. 

The newer Class A facility was built in 2015 on 18.5 acres. It’s situated just south of Topeka with convenient access to Interstates 335 and 470. Neighboring industrial tenants include a Home Depot rapid deployment center, a Frito-Lay warehouse and a Target distribution center. 

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Inside The Story

SJC's Lundberg

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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