ELDRIDGE, IA-Real estate firm STAG Capital Partners has purchased a 169,955-sf warehouse and distribution facility here. The purchase price for the 15-year, net-lease deal was just north of $8 million.
The building is situated on 23 acres of land at 951 Trails Rd. and is master-leased to ADS Logistics, LLC, which provides logistics and supply chain solutions to the metals industry. Pat Sullivan of Converse Capital represented the seller, Steel House, LLC, while STAG was represented in-house by Mike Chase.
In March, the Boston-based company purchased two Midwest properties from iStar Financial. The first property, a 249,920-sf warehouse and distribution facility, is located on 29 acres of land at 2201 E. Loew Rd. in Marion, IN. The second property is a 113,270-sf distribution facility located at 5015 S. Water Circle in Wichita, KS.
STAG targets single-tenant, net leased properties via third-party transactions and corporate sale-leasebacks. Property types include warehouse, flex, manufacturing, and office buildings.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
