STORE Capital Acquired Advanced Control Systems Building
- Jul 04, 2014
STORE Capital, an Institutional REIT, bought Advanced Control Systems Building a 49,436 square foot office/warehouse facility located in Norcross, enlisting the services of Stan Johnson Company. The transaction was worth $4.12 million and the property is leased back to Advanced Control Systems, Inc.
Stan Johnson Company is a real estate brokerage and advisory firm with a background of 28 years and over $16 billion in single-tenant, net lease transactions nationwide. The company offers acquisition, disposition, pricing advisory and financing. Their range of clients includes office, industrial, medical and retail developers, institutional REITs, pension funds, corporations, and high-net worth individuals.
Advanced Control Systems designs and manufactures automation systems, provides smart grid solutions for electric utilities in the United States and internationally. The firm operates as an independent portfolio company of the North American T&D Group. NATDG, which is majority owned by Falfurrias Capital Partners, a private equity investment firm based in Charlotte, NC, acquired the company earlier in March from the Efacec Group.
The company uses the Advanced Control Systems Building as a multi-purpose office, assembly, and warehouse space. The property was sold as a sale leaseback under a long term lease. Britton Burdette and Mollie Alteri of Stan Johnson Company’s Atlanta office spoke for both the buyer and the seller – Falfurrias Capital Partners – in the transaction.
Photo credits: Stan Johnson Company