July 29, 2020
Stan Johnson Company (SJC) completed the sale of a single-tenant, 18,561-square-foot industrial building leased to HERC Rentals Inc. The property is located at 4901 Carey St. in Fort Worth.
SJC’s Zach Harris and Brad Pepin represented Mohr Capital, the Dallas-based developer and seller. Mohr Capital said the net-leased asset traded to the Fisch Grandchildren Trust, a California-based private investor, in a 1031 exchange.
“This was a very successful transaction for all parties involved,” said Harris, director in SJC’s Tulsa office. “The seller, who originally developed the project, delivered a high-quality, build-to-suit facility for the tenant that is now being replicated as a new prototype for HERC Rentals moving forward.”
For the buyer, he added, “it was a great opportunity to acquire a newly constructed, industrial outdoor storage property leased to a top-three, nationwide equipment rental company on a long-term triple-net basis in one of the fastest growing and strongest construction markets in the U.S.”
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