Boston real estate trust buys distribution center in Johnstown for $15.95M

JOHNSTOWN — Boston-based Stag Industrial Inc. (NYSE: STAG) has purchased an auto-parts distribution warehouse in Johnstown for $15.95 million.

Stag purchased the property at 4150 Ronald Reagan Blvd. from a Wisconsin developer in a deal that closed late last month, according to Larimer County property records. The building is flanked by several other warehouses and distribution centers, including High Country Beverage Corp. and Swire Coca-Cola. 

The 383,915-square-foot parcel of land was last valued at $962,300, but didn’t include the value of the development over it.

Stag is a real estate trust that buys and operates large single-tenant industrial buildings. It currently operates a 82,800-square-foot warehouse in Grand Junction and a 64,750-square-foot manufacturing plant in Longmont.

The building’s tenant is Appleton, Wisconsin-based U.S. Venture Inc., which distributes parts and equipment for transportation, oil and renewable energy companies. The company specifically distributes auto parts from the location.

It is unclear if the sale affects U.S. Venture’s operations at the building. A spokeswoman for the company did not respond to a request for comment Thursday.

on Facebook on LinkedIn