Northmarq’s Chris Adams, Vice President – Commercial Investment Services, arranged the sale of an industrial outdoor storage property leased to Ahern Rentals, the largest independently owned rental company in the country. The single-tenant property is located at 9110 Interstate 30 in Little Rock, Arkansas. Adams represented the buyer, a 1031 exchange private investor based in Southern California, who acquired the asset for approximately $3.4 million. The seller, TruCore Investments, a Tulsa, Oklahoma-based investment group, was also represented by Northmarq’s Tulsa office.
“This transaction is a great example of ongoing demand from private investors into the net leased industrial marketplace. The property featured a long-term absolute NNN lease, which makes it a very attractive asset for the buyers’ 1031 exchange,” said Adams. “During the transaction, Ahern was acquired by United Rentals, which served as a welcome tenant credit enhancement.”
The building is situated on 3.44 acres and features ample room for outdoor equipment storage and parking. Located in Southwest Little Rock’s dense industrial corridor, the property neighbors industrial tenants such as Dupont, Pinnacle Express, Sysco and XPO Logistics.