Tulsa, OK, Jan. 23, 2012 –Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of two distribution facilities, 100% leased to FedEx Corporation, located in suburban Detroit and in Kalamazoo, Michigan. The combined sale price was $7.85 million.
Craig Tomlinson (top right photo) and John Zimmerman (lower left photo) of Stan Johnson Company represented both parties, who are private individuals.
“The lack of new builds in the single-tenant space is driving buyers to shorter and shorter leases,” said Tomlinson. “While both are sub 10-year leases, the buyer is very satisfied with the long-term prospects of keeping his tenant.
The seller did a great job timing the market, having recently exercised lease extensions on both buildings,” said Zimmerman.
Contact:
David Ebeling
Ebeling Communications
(949) 278-7851
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