Stan Johnson Company Arranges 1031 Exchange Sale of Newly Built Dollar General in Louisiana for $1.3 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a freestanding Dollar General located at 44840 Highway 191 near Many, Louisiana. The 9,026-square-foot, single-tenant retail building sold for $1.3 million in a 1031 exchange. Stan Johnson Company’s Ryan Roedersheimer, with assistance from Caleb Edwards, represented the local seller, Ratcliff Development LLC. A private 1031 exchange investor, Carpenter Properties Ltd., purchased the asset at a 6.70 percent cap rate.
“We received multiple offers from local and out-of-state buyers, allowing us to achieve full asking price for this asset,” said Roedersheimer, Associate Director in Stan Johnson Company’s Cincinnati, Ohio office. “We were able to close with a Georgia buyer who was familiar with the area from childhood, so along with meeting the asking price, we appreciated his interest in the property that was driven by sentimental value. Our client achieved their desired pricing goals, and the buyer added an asset to his portfolio that he’s proud to own. It was a win-win.”
The newly built store opened in fall 2020 and features a long-term, triple net lease. The property sits on 1.8 acres in the small town of Florien, Louisiana, which is about ten miles south of Many, Louisiana within Sabine Parish in the west-central part of the state.
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 $35 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.