BLUFFTON, IN—Investors have been showing a great deal of interest in US industrial properties, even those located in secondary or tertiary markets. This is especially true for properties that play a key role in corporate operations. Stan Johnson Co., for example, a net lease brokerage firm, has just completed the sale-leaseback of Alexin LLC's combined headquarters and primary production facility located at 1390 South Adams St. in Bluffton, IN, a town about 25 miles south of Ft. Wayne, to a private investment group for $20,500,000.

“Alexin LLC engaged our firm to assist and advise in the efficient optimization of the real estate in its capital structure,” said Scott Briggs of Stan Johnson in a prepared statement. “Our process resulted in nine competitive offers from qualified candidates and ultimately secured Alexin LLC the proceeds it desired on the terms it required.”

The brokers told GlobeSt.com that they could not comment further on the details of the transaction. Ken Hedrick, Jerry Hopkins, D. Andrew Ragsdale, all of Stan Johnson, and Briggs represented both seller and buyer.

Properties in other smaller markets such as Nashville, Memphis and Cincinnati are also generating interest from investors who want to avoid the intense competition, and lower returns, found in core cities. According to Erik Foster, principal and practice leader of Avison Young's Chicago-based industrial capital markets team, told GlobeSt.com that since 2013, the smaller metro areas have “a better story for investors that want to put their dollars to work and get better returns.”

Alexin was founded in 2008 by a group of aluminum casting professionals and the 90,108 square-foot facility was built to their requirements in 2009. In addition to its use as a headquarters, it is also the company's only aluminum remelt facility. Now in its seventh year of operation, the company has successfully convinced investors that it is secure and growing.