Chicago, IL, December 29, 2014 --(PR.com
)-- STREAM Capital Partners ("STREAM"), a boutique net lease and sale leaseback advisory group, recently completed the sale of a 276,000 square foot industrial property located in Anniston, Alabama. The property is under a long term lease to a global tier-one supplier of vehicle interior components and systems.
The seller was a private owner / developer of industrial properties. The buyer was a public REIT. The price was $20.9 million, or approximately $76 / SF. Jonathan Wolfe and Jordan Shtulman, Managing Principals and Co-Founders of STREAM Capital Partners, advised the seller on the transaction.
The transaction was actually agreed to earlier in 2014 as the owner / developer was completing a large expansion of the building for the tenant. The tenant is expanding capacity to meet the demand of the car manufacturers located in the Southeast region of the United States.
Wolfe commented about the sale that, "this transaction is indicative of the strong demand of investors for long term net leased industrial properties. The owner / developer did an excellent job on the expansion and finished it in a timely manner. This provided the buyer the confidence to commit to the deal months in advance of completion of the addition."
Shtulman added that he "expects that the manufacturing and distribution markets will continue growing in the South as economic factors and population growth underpin the demand for more industrial development."
STREAM Capital Partners (www.stream-cp.com) is a boutique net lease and sale leaseback advisory group. The group focuses exclusively on representing buyers and sellers of net leased properties across the country and on structuring and executing sale leaseback transactions for owners of commercial real estate.