FedEx facility in Johnstown sold to investor for $13.4M
JOHNSTOWN — The FedEx ground distribution center at 3870 Ronald Reagan Boulevard was recently sold for $13.4 million.
The seller was ARCP FE Johnstown CO LLC, according to Larimer County public records. That entity is registered to the address of Phoenix-based real estate investment and property management firm VEREIT Inc. (NYSE:VER).
According to VEREIT’s online property portfolio, the company owns several other local commercial and retail spaces including IHOP restaurants in Greeley and Loveland and a General Electric office in Longmont.
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The buyer of the nearly 100,000-square-foot FedEx building was ILPT Properties LLC, an affiliate of The RMR Group Inc. (Nasdaq: RMR), a real estate investment and asset management firm headquartered in Newton, Mass.
Public records show the property was last sold by Jones FTC LLC in October 2014 for nearly $14.8 million.
JOHNSTOWN — The FedEx ground distribution center at 3870 Ronald Reagan Boulevard was recently sold for $13.4 million.
The seller was ARCP FE Johnstown CO LLC, according to Larimer County public records. That entity is registered to the address of Phoenix-based real estate investment and property management firm VEREIT Inc. (NYSE:VER).
The nearly 100,000-square-foot FedEx building was recently bought by ILPT Properties LLC, an affiliate of The RMR Group Inc. (Nasdaq: RMR), a real estate investment and asset management firm headquartered in Newton,…
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