Sale-leaseback of San Antonio industrial facility closes
JLL Capital Markets arranged the sale-leaseback of the mission-critical manufacturing and distribution facility
DALLAS, Sept. 8, 2021 – JLL Capital Markets announced today that it has closed the sale-leaseback of a 166,000-square-foot, fully leased, Class B, mission-critical manufacturing and distribution facility at 5003 Stout Dr. in an irreplaceable San Antonio, Texas, location.
JLL represented and marketed the property on behalf of the seller, Comet Signs, and entered into a long-term lease with the buyer.
Completed in 1985, the building was renovated in 2019 and features tilt-wall construction, a 22.6-foot clear height, 16 dock-high doors, 21 percent office finish and 93 parking stalls. The facility serves as one of three state-of-the-art manufacturing facilities and the corporate headquarters for Comet Signs, which provides complete in-house sign manufacturing capabilities.
5003 Stout Dr. is positioned on 8.43 acres at the intersection of interstate 10 and Loop 410, which provides exceptional regional connectivity to the entire San Antonio metro area along with other major Texas population centers. The facility is within the premiere Northeast Industrial submarket and a short drive to both San Antonio International Airport and the Port of San Antonio, which is one of two Texas intermodal facilities offering air, ground and rail connections.
The JLL Industrial Capital Markets team that represented the seller was led by Senior Managing Director Dustin Volz, Managing Director Stephen Bailey, Director Dom Espinosa and Analysts Joshua Villarreal and Matthew Barge.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Comet Signs
Comet Signs, originally known as Comet Neon Advertising Co., was founded in 1958 and quickly established a strong reputation for quality products, on-time performance, and personal service with national and regional accounts including H-E-B Grocery Company, Church's Fried Chicken, Stop 'N Go, and Jim Dandy Chicken. Comet Signs has grown organically with its customers over the years as well as through strategic mergers and acquisitions. The company now operates on a national basis supported by five Texas locations, three of which house over 250,000 square feet of state-of-the-art manufacturing space.