Stan Johnson Brokers $29 Million Sale of Cincinnati Last Mile Facility to Exan Group

  Craig Tomlinson 

CINCINNATI, OH -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, and EXAN Group have transacted on an industrial property in Cincinnati, Ohio for approximately $29 million.

The 134,000 SF building is located at 3191 Railside Avenue near the CBD and is fully leased to a ‘Fortune 5’ ecommerce company.

  Craig Tomlinson and John Zimmerman of Stan Johnson Company represented the seller, Neyer Properties.  EXAN Group represented the buyer, a discretionary Spanish commercial real estate group.

The cap rate was not disclosed.  The site is part of a larger tract that Neyer had acquired in recent years from the City as part of their urban renewal efforts. 

 The newly constructed ‘last mile’ delivery station facility sits on 22.5 acres on the riverfront near downtown providing easy access to the greater Cincinnati and Northern Kentucky areas.

John Zimmerman 

“It’s a real win for the City of Cincinnati to see a such a high-profile user locate near the urban core”, said Tomlinson. “The investment market for e-commerce real estate is at an all-time high and we are pleased to be a part of this success story”.

Likewise, Juan José Zaragoza, managing partner and founder of EXAN, stated that the group plans to continue its aggressive acquisition strategy throughout the U.S., focusing in no small measure on investment grade single tenant distribution facilities like this one, but without dismissing opportunities in both the retail and office sectors.

 José Zaragoza

 

CONTACT

 
David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member,  National Association of Real Estate Editors (NAREE)

 www.stanjohnsonco.com.

www.exancapital.com.

 www.NEyer1.com.