Stan Johnson Company has completed the sale of a FedEx distribution facility at 5116 Southwest Wenger St. in Topeka, Kansas.
The 26,892-square-foot property was purchased by a Wisconsin-based 1031 exchange investor. Erik Lundberg of Stan Johnson Company represented the seller, an investor group based in New Jersey that acquired the property less than a year prior. The asset traded for about $16.4 million, reflecting a 5.0 percent cap rate.
The Class-A facility was built in 2015 on 18.5 acres. It is situated just south of Topeka with convenient access to Interstates 335 and 470. The property features 36 docks along with ample trailer parking. Neighboring industrial tenants include a Home Depot rapid deployment center, a Frito-Lay warehouse and a Target distribution center.
