Monday, January 23, 2012

Stan Johnson Co. completes sale of two FedEx properties in Michigan



 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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