Stan Johnson Company recently completed the $9.1 million sale of a 56,951-square-foot industrial building 100-percent leased to FedEx Ground. The property is located at 2929 Halvor Lane in Superior, Wis.
Jackie Baker, associate director in the Santa Monica office of Stan Johnson Company, represented the seller, Mountain High Pinebrook LLC, in this transaction. The buyer was HCI Limited Partnership.
“The property featured a new 10-year lease term with two five-year renewal options on a 42 percent expansion of the facility,” said Baker. “This doubled the number of doors at the property, and positioned it for growth the area is experiencing.”
The property offers convenient access to Interstate-535 and U.S. Route 2, and is located less than 10 miles from downtown Duluth.