Stan Johnson Company Announces Sale of Newly Constructed Retail Building in League City, Texas
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a freestanding retail property leased to Firestone Complete Auto Care. The newly constructed 3,400-square-foot building is located at 2049 West Main Street in League City, Texas. Stan Johnson Company’s Mark Lovering represented the buyer, a Houston, Texas-based private investor. The seller was a developer based in Dallas, Texas. The asset was purchased in a 1031 exchange for approximately $4.2 million reflecting a 4.65 percent cap rate.
“The amount of private capital chasing net lease automotive tenants with investment grade credit ratings is immense,” said Lovering, Associate Director in Stan Johnson Company’s Chicago, Illinois office. “The bidding process for this asset was highly competitive, but we were excited to have secured a strong cap rate for a repeat client.”
Earlier this year, Lovering represented the same buyer in the acquisition of another Firestone-leased property in Burleson, Texas.
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm provides acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.