Stan Johnson Company completed the sale of a single-tenant industrial service facility in St Louis, Missouri.
Located at 420 E. Carrie Ave., the 56,021-square-foot property is fully occupied by CSTK (Central States Thermo King, Inc.). Zach Harris and Brad Pepin of Stan Johnson Company represented the seller, Green Street St Louis, a developer based in Clayton, Missouri.
The facility was purchased by a subsidiary of Global Net Lease, Inc., a publicly traded REIT headquartered in New York City, for $12.5 million.
CSTK is a solutions provider for transportation companies, fleets, owner operators and other vehicle/heavy equipment users. The build-to-suit property serves as CSTK’s regional headquarters and was constructed in 2015 on 17 acres with about 10 acres of paved outdoor storage and trailer parking. At the time of sale, there were more than 10 years remaining on the original lease.
