Stan Johnson Company has completed the sale of a single-tenant industrial service facility in St. Peters, Missouri, leased to Herc Rentals.
The 11,591-square-foot property is located at 8016 Veterans Memorial Parkway in St. Peters, which is in the St. Louis market. Zach Harris of Stan Johnson Company, with assistance from Senior Analyst Mark Grossman, represented the seller, Nelson Grumney with Neland Investment Management. The asset was acquired by a private investor who was represented by Patrick Doherty with Marcus & Millichap. The property sold for more than $4.3 million.
The well-located property in a northwest suburb of St. Louis, features direct frontage along Interstate 70 with visibility from more than 136,000 vehicles per day. The facility, built in 2008, is situated on approximately 3.0 acres of fenced land and offers additional income from a billboard that operates on a ground lease.