Stan Johnson Company Announces Sale of Shelbyville Square Near Nashville, Tennessee for $4.6 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has announced the sale of an 18,900-square-foot shopping center located at 1020 North Main Street in Shelbyville, Tennessee. Shelbyville Square was fully leased at the time of sale to eight tenants including Petsense and Pizza Hut. Stan Johnson Company’s Doug Clyburn and Julie Clyburn represented the 1031 exchange buyer, a private investor from Dacula, Georgia. The seller was Sofran Partners, an Atlanta, Georgia-based developer. The asset traded for approximately $4.6 million reflecting a 7.99 percent cap rate.
“We sourced this Kroger shadow-anchored center for our client who needed to complete a 1031 exchange,” said Doug Clyburn, Associate Director in Stan Johnson Company’s Alpharetta, Georgia office. “This was their first out-of-state purchase, but our team was able to provide guidance throughout the process and complete a successful closing. The property is located just outside Nashville in a growing market, and it features a strong line-up of service-oriented tenants.”
The shopping center was built in 2018 and is situated on 2.8 acres along a dense retail corridor. Neighboring tenants include Kroger, Walmart, Lowe’s and Walgreens, among many more national retailers.
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.