News Story

SJC Completes Sale of 20 CVS Portfolio for $62.7M
Wednesday, April 28, 2010

TULSA, OK, April 29, 2010 – Stan Johnson Company, one of the nation’s premier net lease brokerage firms, has completed the sale of a 20 property retail portfolio, 100 percent occupied by CVS/pharmacies, to a Texas-based private investor for $62.7 million.  

Encompassing more than 248,000 square feet, the retail properties are located in Alabama, California, Connecticut, Florida, Georgia, Illinois, Massachusetts, Michigan, New Hampshire, Pennsylvania, Texas and Virginia.

Jeff Hughes and Brandon Duff with Stan Johnson Company represented the buyer and the seller, both of which were Texas-based.

“The buyer was attracted to this deal because the properties were highly leveraged and well suited to meet their unique needs for this transaction” said Hughes.  “We have several comparable transactions in the pipeline exceeding $150 million. These properties have long term, bond style leases with investment grade tenants, providing highly leveraged assumable loans in place. This transaction type is perfectly suited for owners needing to replace debt from 1031 or 1033 exchanges.”

About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on net-lease transactions. Our net-lease group is the largest team of professionals focused exclusively on the acquisition, disposition, and financing of net-leased real estate in the retail, office, industrial, and medical product types. Building on a 25-year foundation in the net-lease industry and completing more than $8.6 billion in transactions nationwide, Stan Johnson Company is positioned as an authority in the industry. A dynamic team approach, refined marketing processes and a foundation built on integrity, professionalism and relationships create a winning combination that enable the firm to consistently deliver quality service and superior results to each unique client.