FARMINGTON, NY-A partnership headed by San Diego-based Western Devcon has sold 5786 Collett Rd. in this suburb of Rochester to STAG Capital Partners of Boston. No purchase price was reported on the deal.
The building is fully net leased to Unisoucre Worldwide Inc. of Norcross, GA, an independent marketer and distributor of paper and packaging products and facilities supplies. The property, which sits on 19.5 acres, totals 149,657 sf and was originally built in 1995. Raymond Stache and James Phillpott of Cushman & Wakefield of Georgia represented the seller, West New York LLC, a partnership headed by Western Devcon.
"It is a well located and high quality real estate with a strong tenant," says Paul Spelman, associate with STAG Capital. The deal closed in early August.
STAG Capital Partners acquires and manages single tenant, net-leased properties throughout the US. The deal follows up on a multi-building purchase it finalized last month. STAG Capital reported in July it had purchased four buildings totaling 478,803 sf of warehouse and manufacturing space in Chesterfield, MI.
The buildings, all located in the RC Schmidt & Sons Industrial Complex, are leased to: Anchor Bay Packaging, which occupies 311,042 sf; Emhart Teknologies, which leases 68,300 sf; Hersh Co., which maintains a presence of 50,371 sf, and Hi-Tech Coatings, Inc., which leases 49,849 sf.
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